Okcoin Integrates With Polygon to Reduce Users’ Ethereum Gas Fees – CoinDesk – CoinDesk

Okcoin Integrates With Polygon to Reduce Users’ Ethereum Gas Fees – CoinDesk – CoinDesk

The cryptocurrency exchange Okcoin has integrated with Ethereum layer 2 scaling project Polygon to allow users to directly access the decentralized finance (DeFi) ecosystem without using an Ethereum wallet. 

The function of the integration is to allow users to avoid skyrocketing gas fees on Ethereum, which have gotten so high they are pricing some smaller players out of the burgeoning DeFi space. 

Users can now withdraw any of the 13 available trading ERC-20 assets (including ETH, UNI, USDT, LINK, COMP and more) from their Okcoin wallet to Polygon’s sidechain. In doing so, users can save up to 25% on gas fees because they no longer have to bridge their assets from an exchange to an Ethereum wallet to Polygon, incurring two transaction fees for using the token bridge. 

“Polygon has gotten tremendous early traction as a scaling solution and has taken the lead in scaling Ethereum,” said Okcoin COO Jason Lau. “Projects and users have both flocked to take advantage of the benefits it offers through much faster and cheaper ERC transactions. It’s seen both assets and transactions increase dramatically since the beginning of the year. Projects like Aave, Sushiswap, Balancer and 1inch also have integrations, so there’s a free flow through the Polygon network.”

Lau said this integration makes it quicker to get assets onto Polygon with one-click withdrawals. Transactions are also cheaper because
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