The month has been hectic for Plasma.Finance, as the platform continuously released its new updates. The DeFi platform has established a partnership with Socket to unify its ecosystem.
Besides this, Plasma.Finance will also collaborate to promote the seamless transfer of data and assets across different protocols. Such activities hold utmost significance to Plasma and will certainly enable new opportunities for its members.
The partnership began with a new instant token bridge being established on Plasma for all of its major chains. These chains include Optimism, Ethereum, xDAI, BSC, Fantom, Polygon, Avalanche, and Arbitrum.
Plasma is well-known for its simplistic approach to DeFi. The platform allows users to store, invest, and moderate any DeFi token with its decentralized exchange that supports BSC, Fantom, ETH, Fantom, and more tokens.
In addition, the platform aggregates all the liquidity pools, saving deposits, and DeFi assets to smoothly swap between multiple chains. That is why the latest partnership can work wonders for Plasma, helping it provide unmatched decentralized assets moderation.
In addition, it will simplify use-cases like liquidity fragmentation, user experience, and interoperability for Plasma users.
Socket is already known for its interoperability use-cases, developing highly-intuitive applications. The platform empowers developers with the technology to address multi-chain issues and create streamlined apps with shared liquidity states.
It uses Liquidity Layer to facilitate smooth asset migrations through different chains. The technology allows users to easily select the ideal route based on security, latency, and cost factors.
Moreover, its Data Layer allows programs to transcend chain boundaries and develop efficient protocols. With such features and use-cases on display, the partnership appears to be a win-win deal for both ventures.