June 8, 2023
Polygon News

A Stellar-Polygon Bridge has been launched to expand XLM use in DeFi

NewsCrypto and Polygon have joined forces to enhance interoperability by linking the Polygon blockchain to Stellar (XLM). Polygon’s DeFi ecosystem will accept Wrapped XLM (wXLM) tokens. NewsCrypto received funding from Polygon to develop a high-performance, low-cost link between the two communities.

The new protocol will allow for fee-free exchanges to happen very instantly. A decentralized multi-signature method and Chainlink’s proof-of-reserve (PoR) module ensure all participants may communicate safely and peer-to-peer with one another.

NewsCrypto is keen to join the Polygon network and deploying its learning solution stack. This new Stellar-Polygon bridge, built by NewsCrypto, will allow the Stellar network users to move liquidity and operate in Polygon’s expanding ecosystem.

The Polygon ecosystem serves as the primary node for ETH-based app scalability. By building bridges with Ethereum, the community secured roughly $10 billion worth of value. The Stellar network will have additional value to unlock for DeFi after the NewsCrypto collaboration.