NewsCrypto will be joining forces with Polygon to improve interoperability and connect the Polygon blockchain to Stellar, creating Wrapped XLM (wXLM) tokens that will be usable in Polygon’s DeFi ecosystem.

NewsCrypto received funding from Polygon for the development of a low-cost bridge to connect both ecosystems. The partnership represents a departure from NewsCrypto’s core business of educating crypto newcomers, though it is at the same time a natural evolution, as NewsCrypto’s NWC token was originally launched on Stellar. NewsCrypto has the experience necessary to create an interoperable platform for Stellar that connects the XLM ecosystem with the DeFi opportunities of Polygon.

Thanks to both the speed and throughput of each blockchain, the Stellar/Polygon bridge allows for near instantaneous swaps. The bridge is engineered to be as safe as possible, using decentralized multi-sig schemes and Chainlink’s Proof of Reserve to ensure the correct balance of the swap wallets. Proxima conducted an audit on the system.

Polygon was created in 2021 to be the central hub for Ethereum-based app scaling. The ecosystem has more than $10 Billion in value, with bridges linking it. NewsCrypto will partner with Polygon to unlock $10 billion more value within the XLM ecosystem for DeFi. Through Polygon’s good connectivity with other ecosystems, wXLM could easily be ported into Ethereum and many other blockchains.

NewsCrypto wants to make their learning platform available and join the Polygon community. With the newest Stellar – Polygon bridge designed and developed by NewsCrypto, the Stellar network community can now transfer liquidity and engage with Polygon’s growing ecosystem,”
said Arjun Kalsy, VP Growth at Polygon. Vid Gradišar,

CEO of NewsCrypto, commented in a similar vein

“The Stellar bridge represents an important pivot for us into infrastructure projects. It is far more than the Stellar ecosystem’s capacity suggests that it has been criminally neglected by interoperability software. We knew that without us, it would’ve stayed the same, so we went ahead and connected the $10 billion XLM ecosystem to DeFi on Polygon.”
“Having XLM available on the Polygon PoS Chain means it can be used for lending, decentralized trading and any other important DeFi usage,”
said Sandeep Nailwal, Co-Founder of Polygon.

“We’re happy to be working with NewsCrypto on this and other exciting new collaborations.”
The Stellar bridge is nonetheless the first of many NewsCrypto projects together with the Polygon community, with a lending solution on the platform expected to come in the next few months.

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