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

Pudgy Penguins use Layer 0 to add Polygon (MATIC), BNB Smart Chain and Arbitrum (ARBI) to allow cross-chain transactions and improve access for people beyond the Ethereum (ETH) blockchain. Announced.

It was decided to make NFTs easier to access and improve the existing infrastructure. Presentation. Additionally, the project aims to increase interoperability between chains and the protocols built on top of them. The announcement states:

“This is just the beginning of our efforts to expand the reach and distribution of the Pudgy Penguins IP, and we are always looking for new ways to do this. , which opens up the possibility of working with different companies working on those chains.”

Accessibility and capacity

In the last week of December 2022, Pudgy Penguins’ trading volume surged by 599%. Currently, Penguin is experiencing about 2 million transactions per day, which is a strain on his ETH infrastructure and pushing up gas prices by almost 1,000%.

The project team also said it expects the next wave of users to be in the “hundreds of millions”.

The three chains were chosen “because of their rapidly increasing usage and exposure.” After completing the expansion to Polygon, BNB Chain, and Arbitrum, the project will continue to include more chains in its ecosystem.

soul bound token

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

Depending on the chain that the Penguin owner bridges, a unique commemorative soulbound token representing the bridge will appear in the user’s wallet within 5 minutes.

Posted In: NFT, Partnership

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