Kana Labs is happy to announce that we are onboarding the Polygon blockchain ecosystem to our product suite. As a chain-agnostic multi-chain DeFi super app, Kana Labs is always working to increase the number of supported blockchains in our product suite. We currently support Solana, Aptos and Neon EVM blockchain networks and it is our journey to become a true multi-chain giant, work is in progress to add as many blockchain networks as possible into our product ecosystem.
This integration with Polygon blockchain and its dApp ecosystem will allow us to take the next big leap in our journey towards becoming a DeFi super app with cross-chain liquidity and bridge aggregation capabilities as it helps us connect the EVM and non-EVM worlds, something that very few if any, platforms out there have managed to do so far. The next few weeks will see us expand quickly into multiple EVMs like BSC, Arbitrum, Avalanche etc.
What is Polygon Blockchain?
Polygon blockchain is a layer 2 network that is built on top of the Ethereum blockchain network. Ethereum was the first and is one of the biggest blockchain ecosystems to have a wider use case scenario aside from just as a tradable financial asset (cryptocurrency). Ethereum ecosystem helped revolutionize web 3 space by creating various use cases in the financial services area in form of DeFi and also boosting use cases in other areas such as Virtual Reality, Decentralised Gaming, and NFTs etc., But as use cases increased Ethereum started facing several issues such as higher transaction costs and longer transaction time making transactions very slow greatly affecting its attractiveness to its users.
As a layer 2 network, Polygon focuses on negating Ethereum ecosystems’ cons while accommodating the best parts of the Ethereum blockchain. This means that a user gets access to faster transaction speeds and lower transaction costs alongside scalability, security, sovereignty, interoperability and modularity. Polygon blockchain works based on a modified proof of staking concept in which consensus can be gained with each block as opposed to the traditional method which involves multiple blocks to validate transactions.
What do you gain?
Our integration into the Polygon blockchain network opens the door to a massive ecosystem of dApps currently active in the market. As we integrate with dApps and DEXs from Polygon, we open the door for users from both Polygon and other supported blockchain networks in our product suite to interact with a wider range of audiences be they, developers or end users. Users will be able to make swaps in polygon chain and from polygon to Solana/Aptos chains and vice versa. Developers who build dApps on top of Kana Labs’ cross-chain bridge and liquidity aggregation layer (available through our SDK) will get the best of all three blockchain ecosystems under a single UI/UX.
