An altcoin project, which is on the list of billionaires such as Mark Cuban and Mike Novogratz, is signing a global collaboration.
This altcoin on the billionaire’s list announces its new partnership
In an announcement Thursday, Axelar shared that it will partner with Polygon. This agreement will bring secure cross chain communication to Polygon Supernets. Supernets basically act as high-performance application-specific Blockchains that allow users to customize dApps.
This partnership will also allow Polygon dApps users to access Polygon Supernet’s leading metaverse, gaming, business, DeFi and entertainment projects. Commenting on this partnership, Parth Pathak, Managing Director of Supernets at Polygon, said:
Axelar’s cross-chain infrastructure will allow developers to build cross-chain dApps on Polygon Edge, which creates liquidity and functionality across Web3. This enables complex transactions such as cross chain lending using NFTs as collateral.
Catch on yet? 👀💜
Axelar is partnering with @0xPolygon to deliver secure cross-chain communication to #PolygonSupernets.
Secure asset transfer to and from Supernets and any other connected chain is on the way! 🔜
Devs and users, listen up 🧵👇https://t.co/pXhQqR1vYk
— Axelar Network (@axelarnetwork) October 26, 2022
Also, this partnership eliminates the need for Polygon Supernets to have their own DEX. These Supernets will no longer need DEXs as Axelar will provide easy cross-network liquidity solutions.
The partnership directly influences the development of MATIC
The MATIC price is directly affected by developments in and around the Polygon ecosystem. Earlier this week, Polygon was second in terms of daily DEX trading volume. As a result, the price of MATIC has also increased with the broader market rise. Thus, MAYIC is one step closer to the psychological threshold of $1. It is currently trading at $0.9087. It ranks 11th with a transaction volume of approximately 8 billion dollars.
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