Wormhole Expands Its Bridge To Polygon and Solana
Polygon users can now use the Wormhole bridge to port their assets to Solana, Binance Smart Chain, and Terra.
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Wormhole has integrated Polygon to its multi-chain bridging solution.
Multi-Chain Bridge Adds Polygon
Wormhole, a popular multi-chain bridge protocol, has announced support for a new bridge to Polygon—the top sidechain on Ethereum.
On Tuesday, the Wormhole team revealed that starting today users will be able to transfer assets between Polygon and other Layer 1 blockchains like Solana, Ethereum, Binance Smart Chain (BSC), and Terra Network. Polygon is the first sidechain added to Wormhole.
Wormhole’s cross-chain wrapping protocol allows users to send cryptocurrencies and non-fungible tokens across different chains. The project has $540 million in total value locked in wrapped assets, the team claims.
According to Hendrik Hofstadt, the lead contributor to Wormhole, the project has been executing its “vision of bridging together a more decentralized and resilient network.” Further commenting on Polygon’s integration with Wormhole, Hofstadt said:
“The addition of Polygon brings a diverse set of users and applications to Wormhole, and we’re excited to see how the synergies play out.”
Several interoperability bridges have taken off over the last six months, accompanying the rise of the multi-chain era.
Notably, Wormhole is one of the most widely used solutions for bridging crypto assets to Solana. By supporting a high-value chain like Polygon, it has expanded its capability to connect Solana with Polygon’s ecosystem.
The sidechain has over $5.22 billion in total value locked, and hosts some of the top dApps on Ethereum, including Aave, OpenSea, Curve, Balancer, and many more. Since its mainnet launch in May 2020, Polygon has seen over a billion total transactions on its network.
Disclosure: The author owns ETH, MATIC, and SOL.