OKEx, the world’s leading cryptocurrency exchange and derivatives trading platform has taken a big step to make it easier for its users to trade Ethereum-based assets by integrating with one of the fastest growing Ethereum Layer-2 scaling solutions. With the latest development, OKEx has become one of the first exchanges to integrate with Polygon, allowing for a faster and more profitable experience when transacting between the platform and the Polygon PoS Network.
The inclusion of support for Polygon’s full stack scaling solution is a huge improvement as it eliminates the otherwise unnecessary and costly steps that involved users transferring ERC20 tokens from the platform to a layer wallet. 1 before migrating to Polygon PoS Network. By ditching the middle step, OKEx is in a position to encourage more users to adopt Ethereum-based dApps and DeFi solutions, and vice versa.
In a statement marking the evolution of OKEx, CEO Jay hao saying, “Users have always been a priority for us. OKEx is more than a trading platform; we are a trading partner striving to make the crypto journey as easy and profitable as possible. As Layer-2 technology, especially some big names in the market, matures and becomes a solution to congestion on Ethereum, we are pleased to be one of the first major crypto exchanges to take on this innovation and bring the solution from Polygon to our users. . “
Expressing a similar sentiment in pointing out the benefit of integrating with OKEx, said Polygon co-founder Sandeep Nailwal, “We are delighted to see the integration with Polygon for direct withdrawals at OKEx, one of the largest global exchanges. This will make it easier and more seamless for new users to enter the Polygon and Ethereum ecosystem. “
The demand for Layer-2 solutions on Ethereum has increased in recent months due to issues related to network congestion and rising gas costs. The situation has increased transaction settlement times and made microtransactions virtually unsustainable in the Ethereum ecosystem. When ETH was at its all-time high, the ridiculously high gas costs made people think twice before executing any transactions. Polygon, along with a few other L2 projects, has come up with a viable solution that could address these issues.
To further sweeten the deal, OKEx has announced a complete waiver of withdrawal fees for users transferring funds directly from the platform to the Polygon PoS Network.