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    Home » IoTeX Teams Up with Polygon Labs to Integrate AggLayer for Cross-Chain DePIN Liquidity
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    IoTeX Teams Up with Polygon Labs to Integrate AggLayer for Cross-Chain DePIN Liquidity

    Andrei IonescuBy Andrei IonescuTuesday, 17 September 2024, 14:04No Comments2 Mins Read

    IoTeX, a decentralized physical infrastructure network (DePIN), has partnered with Polygon Labs to integrate its IoTeX 2.0 blockchain with AggLayer, a move aimed at boosting cross-chain communication and liquidity for DePIN projects. The collaboration was announced at the R3al World event in Singapore by IoTeX CEO Raullen Chai and Polygon co-founder Sandeep Nailwal.

    This integration will enable IoTeX-based projects to distribute rewards and allow users to settle on the chain of their choice. AggLayer’s capabilities will provide enhanced cross-chain support, unlocking liquidity and scaling opportunities for DePIN initiatives.

    “This integration not only enhances cross-chain capabilities but also unlocks unprecedented liquidity and scaling opportunities through the AggLayer for DePIN projects,” Nailwal stated. “It allows these projects to thrive in a multi-chain world.”

    AggLayer, developed by Polygon Labs and other contributors, is an interoperability layer designed to facilitate unified liquidity and security across a network of blockchains. By leveraging ZK proofs (zero-knowledge proofs), the system ensures that if one chain experiences issues, others remain unaffected.

    IoTeX’s collaboration with Polygon is part of its broader efforts to drive DePIN adoption. In July, IoTeX released its IoTeX 2.0 white paper, presenting a tech stack with composable modules and a unified trust layer. This integration with AggLayer will allow any DePIN developer to connect seamlessly across multiple blockchains.

    AggLayer Expands Its Network

    The AggLayer, introduced by Polygon Labs in January, aims to connect various blockchains to support unified liquidity. Several projects, including OKX’s X Layer, Immutable, Astar, and Aavegotchi, are already using or planning to use the Polygon CDK to develop their Layer 2 networks and connect with AggLayer.

    READ  Paul Tudor Jones Warns of Inflation, Favors Bitcoin, Gold, and Commodities

    Recently, crypto hardware manufacturer Fabric Cryptography announced a partnership with Polygon Labs to bring its custom ZK chips to the AggLayer ecosystem, further enhancing the security and interoperability of the platform.

    Several Polygon-related projects, such as Geodnet and Dimo, have already utilized IoTeX’s infrastructure, solidifying the growing collaboration between the two ecosystems.

    This strategic partnership underscores the increasing importance of cross-chain interoperability and liquidity sharing as blockchain networks continue to expand and evolve.

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    Andrei Ionescu

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