Swell, a DeFi (decentralized finance) network, is focused on developing a Layer 2 chain aimed at restaking cryptocurrencies. According to the report announced on Wednesday, the project is based on AggLayer from Polygon, a scaling infrastructure that works on fixing scalability problems and provides wider liquidity possibilities across the multi-cryptocurrency market.
The recent Dencun upgrade on the Ethereum blockchain is going to possibly have the ability to substantially reduce transaction fees for Layer 2 applications, consequently improving their adoption and usefulness. This has signaled the need for the organization to secure the Layer 2 solution, restaking, and staking in order to support the concept as a whole.
Polygon, a pioneer in the Ethereum scaling platform, has revealed that its technology will provide the underlying protocol for a new restaking system, created by Swell, a decentralized finance entity. This implies that native staking solutions built into large scaling platforms such as Polygon are being embraced more and more.
The Dencun (Layer 2) upgrade represents a catalytic factor that contributed to the highly rising interest in the low-level solutions. As a result, Polygon’s AggLayer network may become increasingly viewed by developers and be in high demand in the Web3 domain.
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