Dubai, September 3, 2021 – Polygon, an ethereum-based full-stack scaling solution bringing mass adoption to the ethereum platform, today announces that Dharma, a leading Ethereum wallet that directly connects with users’ banks, has completed its integration with the Polygon network. The integration will now enable users to easily, quickly, and securely purchase virtually any decentralized finance (DeFi) token directly from their US-based bank account without paying gas fees.
With the majority of Web 3.0 projects, including Sushiswap, Curve, Aave, Balancer, Kyber already using Polygon’s PoS chain as their preferred scaling solution, the Dharma wallet integration was a necessary move. Full Dharma wallet support for Polygon enables users to effortlessly manage their DeFi portfolio, including token swaps, asset purchases, and token transfers. And soon, users will have access to a broad selection of popular decentralized apps (Dapps) on Polygon — all in one place.
The removal of gas fees and difficult-to-navigate cross-chain bridges makes Dharma the best way to experience DeFi on Polygon.
Nadav Hollander, CEO & co-founder of Dharma, said: “Since launching the Dharma mobile application in January 2020, the primary feedback we’ve received has been ‘why are network fees so high?’ Today — thanks to the Polygon Integration — users around the world can experience the magic of DeFi, through a beautiful and intuitive user experience, with zero network fees.”
The Dharma integration aligns well with Polygon’s goal to democratize investments, empowering more people to grow their wealth and access financial services.
Sandeep Nailwal, co-founder of Polygon, said: “Polygon has experienced impressive growth in the US and UK. But our goal is to become a global leader. In line with our mission, Polygon’s integration with Dharma will allow us to gain an even stronger foothold in the US and around the world now that users can buy DeFi tokens directly via their banks, swap them with other users, and send them to friends and family anywhere in the world – with just a few taps.”
Polygon houses six times more gaming and NFT Dapps than other chains, at a total count of more than 450. Polygon’s ethereum scaling solutions also boast over 13.5 million unique users and have facilitated more than 350 million transactions.
Since April this year, Polygon’s Total Value Locked (TVL) — a metric that denotes market share and growth — surged from $1 billion to nearly $9 billion. The growing market share of Polygon suggests there’s an increasing demand for decentralized applications on faster and cheaper blockchain solutions. Now, with Dharma integration, Polygon users are granted even greater accessibility to the DeFi sector, and Dharma users can transact without Ethereum’s obtrusive gas fees.