The combination between Union Labs and the Aggregation Layer will unlock better Web3 liquidity between Polygon and Cosmos chains.
Union Labs, a Web3 venture constructed on the Cosmos ecosystem to allow hyper-efficient zero-knowledge (ZK) infrastructure for basic messaging purposes, has introduced plans to combine with Polygon Labs-backed aggregation layer alias AggLayer, which goals to unify the defragmenter nature of the blockchains. In accordance with the announcement, the mixing between Union’s community and AggLayer will considerably improve liquidity and interoperability between Polygon-based chains and Cosmos-centered chains.
Moreover, the Union community makes use of superior ZK cryptography to make sure a quick and safe inter-blockchain communication protocol (IBC). In accordance with Karel Kubat, the founding father of Union Labs, the mixing of each networks is monumental in addressing the siloed nature of blockchain expertise whereas nonetheless upholding sovereignty.
The AggLayer was launched earlier this yr by the Polygon staff to combine ZK proofs from all linked chains. In consequence, the AggLayer ensures security for cross-chain transactions which can be close to immediate. Already, the AggLayer has linked with a number of chains together with OKX-backed X Layer, Polygon zkEVM, and Astar zkEVM, amongst others within the pipeline.
“It is a huge step for Union, Cosmos, the Polygon ecosystem, and the AggLayer as a complete. Union’s integration with the AggLayer will unlock extra than simply transactions; it’s one other alternative for builders to construct throughout networks, faucet aggregated customers, and develop seamless UX,” the announcement noted.
The combination between the Union community and AggLayer is a win-win scenario as the general expertise can be seamless interoperability throughout completely different chains. Moreover, Union community is an in depth collaborator with Celestia (TIA), a modular knowledge availability community, which can be henceforth linked with the AggLayer.
Market Image on Union Labs and AggLayer Integration
The Web3 ecosystem has grown to a trillion-dollar trade because it guarantees to onboard the bankless and revolutionize the finance sector. Nonetheless, the Web3 ecosystem stays largely disintegrated and cumbersome and dangerous to switch belongings from one chain to a different by way of completely different sensible contract-enabled bridges.
Moreover, billions of {dollars} have been misplaced up to now few years by way of poorly designed interchain bridges and more often than not customers are left devastated.
Nonetheless, Polygon Community is dedicated to making sure safe and seamless Web3 connectivity, particularly DeFi protocols on the Ethereum ecosystem. Notably, the Polygon community is a top-tier layer two scaling answer on the Ethereum ecosystem, with a complete worth locked (TVL) of about $887 million and a stablecoins market cap of round $1.58 billion.
The combination of the Union community and AggLayer will in the end assist in the mass adoption of MATIC token, the native token used on the Polygon ecosystem. As of this report, MATIC’s value trades round 68 cents, down 21 p.c up to now seven days following the Bitcoin-led crypto selloff.
Moreover, the mixing of AggLayer and Union community will assist the Polygon community stay aggressive amongst different layer two scaling options.
