Bangalore, August 10, 2021 – Hop supports the withdrawal of Instant $matic from polygons to Ethereum and other supported scaling solutions.
Native Polygon Bridge has seen significant improvements over the past few months, reducing its departure time from an average of 3 hours to just an hour, but one asset was barely affected by these upgrades :$Matic.
Today there are two bridges that mainly move assets between Ethereum and polygons. The first is the Pile Evidence (POS) bridge, and the second is the so-called plasma bridge. If you’ve ever had tokens like USDC or ETH in and out of polygons, you may have used a POS bridge.
Plasma bridges, on the other hand, are used to draw out $mate. It provides increased security assurance, but it also provides a major problem for polygon users with longer draw times of up to 7 days.
Hop your $matic from polygons to ethereum in minutes
Hop is the first bridge protocol to unlock instant $matic drawers. So we want to monitor how transfer volume compares to assets supported by Hop. Here, the cost and time savings of using hops on a native polygon bridge were more negligible. With hops, the $matic withdrawal takes 4-5 minutes, takes 7 days, and the gas cost is cents. Most often, depending on the liquidity, it’s not only faster, but it’s cheaper to use a hop bridge!
If you have questions about the process, jump into the discrepancy.
About Hop
Hop is a protocol for sending tokens quickly and reliable across scaling solutions and their shared layer 1 networks. Scaling solutions have the potential to scale Ethereum networks, but each creates a siloed environment for the application. Moving assets between scaling solutions and Layer-1 networks is slow and expensive, reducing the number of saving users that users acquire using the network. Hop protocols allow assets to move directly from one scaling solution to another, providing cost savings and enabling application complexity.
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About polygons
Polygon is the first well-built, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is the Polygon SDK. It is modular and flexible to support the construction and connection of secure chains such as standalone chains such as Plasma, Optimistic Rollups, Zkrollups, Validium, and other standalone chains such as polygon POS designed for flexibility and independence It’s a framework. Polygon’s scaling solution has seen extensive adoption with over 450 DAPPs, ~350m TXNS, and ~13.5m unique users.
If you are an Ethereum developer, you are already a polygon developer! Use Polygon’s fast and secure TXN for DAPP. Let’s start here.
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