GraphLinq Protocol Partners With Polygon (Previously Matic) For Layer 2 Solutions & smartdex Listing
POLYGON / MATIC — Graphlinq (GLQ) Partnership
As part of our development progress, we decided to take the road of a layer 2 solution to avoid our gas fees issues. We are excited to announce our partnership with Polygon Chain (Previously known as Matic) 🥳
GraphLinq Protocol will host its layer two solutions over the Polygon chain to optimize the efficiency of execution costs & the average time of transactions per second: Polygon block time is 2 seconds and the average transaction fee is $0.00004 which is exactly what we need to run our service efficiently.
So first, what is a layer 2 solution, and why our Protocol need it?
Layer 2 is a collective term for solutions designed to help scale an application by handling transactions off the main Ethereum chain, to execute them on the Polygon chain.
GraphLinq’s native asset, GLQ uses a deflationary framework for maintaining the state of the graphs running over the Engine network from our interface at app.graphlinq.io, as for users to pay fees based on the graph execution cost, they need to deposit some GLQ on the cloud contract balance which are used to run and “fuel” blocks executions.
The current cost for only one deposit or withdrawal from the cloud contract balance with the current ETH network (based on a gwei price at 153) is approximately ~$15.65, while users would now have to pay only a fraction of that price to do the same actions over the Polygon chain.
To make that possible from the native GLQ token, Polygon created a mapping system to “Bridge” our ERC-20 version to the Matic mainnet -> check out their mapping system.
This lets you swap the ETH version for the GLQ token on Matic (reversible)
Our GLQ Matic token is already deployed on the Matic Chain and can be swapped from your matic wallet at wallet.matic.network
Explorer URL : explorer-mainnet.maticvigil.com/tokens/0x0CfC9a713A5C17Bc8a5fF0379467f6558bAcD0e0/
We will also integrate the Polygon chain into our Engine and our IDE to create connectors, events, and live information from the chain activity to expand our audience and possibilities!
Here is our development roadmap as part of our partnership with Polygon / Matic:
- Deployment of the GLQ bridge Token over Matic
- Upgrading our cloud contract balance to Polygon network and updating our front app
- Adding on an interface a direct overview to swap token from ETH to Matic
- Developing our staking smart-contract and releasing our interface
- Integration of Matic connectors over the Engine / IDE to give real-time events from Polygon chain in graphs
- Giving real use case example of graphs to actually visualize data and do automated tasks from Polygon chain
- Adding Matic as part of our partner in the analytics interface to give data visualization from Polygon datas
SMARTDEX (ON MATIC CHAIN) — GLQ PARTNERSHIP
A new and incredible project for decentralized trading just came out on the Polygon chain known as smartdex, powered by Autonio. They are rethinking the way of making DEX trades and farming/staking pools on AMM protocols.
We now have our own GLQ token over the Matic chain, so we want to give the possibility to our community to profit from their activities and be able to trade on smartdex.
As part of our partnership, GraphLinq will host a farming pool with rewards that will be soon announced with more details from the smartdex team that will be available on swap.smartdex.app/#/farm
GraphLinq will also include blocks in the Engine and on the IDE to create bots to watch pairs and monitor liquidity on smartdex (like we did for Uniswap and other AMM protocols). Details will be shared in upcoming development updates.
We hope that you are as excited as we are!
Thanks for reading this article, stay tuned for upcoming announcements.