The world’s leading platform for crypto derivatives trading and exchange, OKEx, has advanced towards a significant step towards the easy trade of assets based on Ethereum by incorporating the scaling solutions provided by Ethereum Layer-2. OKEx has managed to be considered as the first exchange which is integrating with Polygon. The collaboration will add a more cost-effective experience by operating transactions among the platform and Polygon PoS (Proof-of-Stake) network.
A magnificent upgrade has been made by the insertion of support for the full-stack solution of Polygon because it excludes the costly and unnecessary steps that comprise the transfer of ERC20 tokens by the users to their wallet before taking them to the Polygon Proof-of-Stake (PoS) network. OKEx encourages more consumers to join dApps based on Ethereum, DeFi solutions, and so on by eliminating this intermediary step.
The CEO of OKEx, Jay Hao, disclosed in a statement about the firm’s evolution that the company’s priority has always been its users. He further mentioned that the firm is not only a trading platform. Rather, the company is seeking the partnership of a company that struggles to bring advancements to crypto trading by making it more cost-effective and convenient for consumers. He expressed that he is happy for the company as it is now one of the initial biggest crypto exchanges as it utilizes Polygon’s solution for the customers.
The co-founder of Polygon, Sandeep Naiwal, revealed in a similar tone stating that the organization is excited at the integration between Polygon and OKEx to enable the users to directly withdraw the currency on OKEx, which is now known as one of the largest exchanges in the world. The consumers will get benefit from it as it will be convenient and supportive in taking further clients to the organization.
Ethereum’s Layer-2 solutions are currently in great demand for some months as a result of the problems of expansion in gas costs and network congestion. The times of transaction settlement have been expanded by the solution. In the meanwhile, the micro-transactions are invalid in the Ethereum environment. Previously, the consumers were reluctant to make any deal for ETH as it was much costly for the gas expanses. Now is a time when this problem has been solved by the provision of a feasible L2 service by Polygon.