Pudgy Penguins launches cross-chain transactions for Polygon, BNB Chain, Arbitrum

The project is using LayerZero to expand its current Ethereum blockchain to improve ease of access and network capability.

Pudgy Penguins announced that it is using Layer-0 to allow cross-chain transactions on adding Polygon (MATIC), BNB Smart Chain, and Arbitrum (ARBI) to improve access for people beyond the Ethereum (ETH) blockchain.

The decision was made to increase easy access to the NFTs and improve the existing infrastructure, according to the announcement. In addition, the project aims at higher interoperability across chains and protocols built on them. The announcement states:

“This is just the start of our efforts to expand and distribute the reach of Pudgy Penguins IP, and we’ll always be looking for new ways to do this. By expanding our horizons to more blockchains, we open up possibilities of working with various businesses that work on those chains.”

Ease of access and capacity

In the last week of December 2022, the transaction volume of Pudgy Penguins surged by 599%. Currently, the penguins experience almost 2 million transactions a day, which is hard on the ETH infrastructure and pushes  gas fees up by almost 1,000%.

The project team also said they expect the next wave of users to be “hundreds of millions.” This is why the project decided to promote ease of access.

The three chains were selected “due to their rapidly growing usage and exposure.” After the expansion to Polygon, BNB Chain, and Arbitrum is completed, the project will continue to include more chains into its ecosystem.

Soulbound token

The project team is also launching soulbound tokens to help facilitate cross-chain transactions. A total of three soulbound tokens will be issued to Pudgy Penguin NFT holders, each corresponding to one chain.

Depending on the chain the penguin holders bridge to, a unique commemorative soulbound token representing the bridge will appear in the user’s wallets within five minutes.

Source : cryptoslate

Leave a Reply

Your email address will not be published. Required fields are marked *