OKEx, the main world crypto change and derivatives buying and selling platform has taken an enormous step in making it simpler for its customers to commerce Ethereum primarily based property by integrating with one of many fastest-growing Ethereum Layer-2 scaling options. With the most recent growth, OKEx has change into one of many first exchanges to combine with Polygon which can allow a faster and extra cost-efficient expertise whereas conducting transactions between the platform and Polygon PoS Community.
The inclusion of help for the Polygon full-stack scaling answer is a big improve because it eliminates the in any other case pointless and dear steps that concerned customers transferring ERC20 tokens from the platform to a layer-1 pockets earlier than migrating them to Polygon PoS Community. By eliminating the middleman step, OKEx is able to encourage extra customers to undertake Ethereum primarily based dApps and DeFi options, and vice versa.
In an announcement marking the evolution of OKEx, CEO Jay Hao stated, “Customers have at all times been a precedence to us. OKEx is greater than a buying and selling platform; we’re a buying and selling accomplice who strives to make the crypto journey as simple and as cost-efficient as attainable. As Layer-2 know-how, particularly a number of massive names out there, matures and turns into an answer to the congestion on Ethereum, we’re pleased to be one of many first main crypto exchanges to take up this innovation and convey Polygon’s answer to our customers.”
Voicing an identical sentiment whereas stating the advantage of integration with OKEx, the co-founder of Polygon Sandeep Nailwal stated, “We’re thrilled to see the mixing with Polygon for direct withdrawals on OKEx, one of many greatest world exchanges. This can make it simpler and extra seamless for brand new customers moving into the Polygon and Ethereum ecosystem.”
The demand for Layer-2 options on Ethereum has gone up in latest months owing to points associated to community congestion and elevated gasoline prices. The state of affairs has elevated the transaction settlement instances whereas making microtransactions nearly unsustainable on the Ethereum ecosystem. When ETH was at its all-time excessive, the ridiculously excessive gasoline prices made individuals suppose twice earlier than executing any transaction. Polygon, together with few different L2 initiatives has introduced a viable answer that would tackle these points.
Additional sweetening the deal, OKEx has introduced a whole waiver of withdrawal charges for customers immediately transferring funds from the platform to Polygon PoS Community.