Announcement | Plutus Signs Agreement With Polygon

Plutus has signed a contractual agreement withPolygon Studios! Polygon, formerly known as the Matic Network, is a Layer-2 scaling solution that runs alongside the Ethereum blockchain. It is designed to allow higher-speed and lower-fee transactions for tokens such as Pluton (PLU) built on the Ethereum Blockchain.

Plutus will be working alongside Polygon’s development team to deploy PLU onto its sidechain. Upon completion, customers will be able to seamlessly send, withdraw, and swap PLU without experiencing Ethereum’s high gas fees. As opposed to this quarter’s planned self-deployment, we have taken a lengthier but more strategic approach to collaborate and refine the agreement over many weeks.

As such, the launch of PLU on the Polygon sidechain is now expected for Q3 2022. We will be reflecting these changes on an improved roadmap which we will publish on 29th June 2022. With new partner opportunities yet to be disclosed, we are taking an improved product direction with more bank-like features tailored to the mass market’s needs.

Stay tuned!