22 Mar, 2021

Coreto with Polygon - partnership (formerly Matic Network)

by Vlad Faraon

Coreto is partnering with Polygon, formerly known as Matic Network‏

‏As we move forward and get closer to our Alpha launch, we’re making sure that all the conditions are met so that the final result is the one we set out.‏

‎‏Among algorithms and whitelists, at this point, we are focusing on partnerships that can benefit our community. We listened to your requests and recommendations, and we did our own research as well. ‏While looking for a partnership that not only completes our vision, but it takes it to the next level, our next move was the most simple and logical one.‏

‏Without further ado, we're excited to finally announce our latest collaboration: starting this week, Coreto will be officially signing a partnership with Polygon, formerly known as Matic Network.‏

Polygon-Matic network and Coreto integration

What is Polygon?‏

‏Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks.‏

‏It aims to solve Ethereum’s scaling issues and the high transaction fees. Just like Polkadot, Polygon will possess multi-chain functionalities that are known to speed-up transactions.‏

‏The multichain architecture will include Layer 2 secured together with standalone chains. Also, it’s becoming an L2 aggregator by combining Plasma, PoS chain, and multiple layer-2 solutions such as Optimistic Rollups and Validium, offering developers various scaling options to choose from.‏

‏How will users benefit from the Coreto & Polygon (formerly known as Matic Network) partnership?

‏Through this partnership, we'll integrate Coreto into Polygon (MATIC) L2 Network in 3 stages:

  • ‏First: We'll Create a Bridge between Layer 1 Ethereum and Layer 2 Polygon (MATIC) Network that will solve one of the pressuring issues our community faced: the high gas fees when sending or transacting COR tokens.
  • ‏Second: We’ll integrate $COR tokens into the Polygon Wallet (wallet.matic.network) in order to facilitate transactions between the Polygon Layer2 sidechain and the Coreto.io platform, along with the future listing of our $COR token on a Polygon compatible DEX.
  • ‏Third: We’ll migrate the whole Coreto.io platform on Polygon Layer2 in order to offer a higher degree of decentralization, aligning with Web3.0 principles and allowing a much cheaper gas fee when users transact $COR tokens.‏

Conclusion

‏Our partnership with Polygon marks an important milestone in building the Coreto platform. Together, we not only provide benefits to the community, but we also contribute to creating a safe environment in the DeFi industry.‏

‏As our Alpha release whitelisting just launched, those who want to be early adopters can register‏.

‏See you on the other side of the internet!‏