Partnership between IoTeX and Polygon Labs

IoTeX, a DePIN infrastructure platform, is partnering with Polygon Labs to integrate its IoTex 2.0 blockchain with AggLayer. The partnership aims to leverage AggLayer’s cross-chain communication and liquidity sharing capabilities. This integration will enable IoTeX-based projects to distribute rewards and allow users to transact on the chain of their choice. The collaboration was announced by Raullen Chai, CEO and co-founder of IoTeX, and Sandeep Nailwal, co-founder of Polygon, at the R3al World event in Singapore.

Polygon Labs and other core contributors are developing AggLayer, an interoperability layer designed to provide unified security and liquidity across multiple chains. By implementing ZK proofs, AggLayer aims to mitigate the risks associated with the failure of a single chain. ZK proofs allow parties to verify the accuracy of a statement without revealing the underlying data, enhancing the security and privacy of blockchain systems.

In July, IoTeX introduced a white paper for IoTeX 2.0, a technology stack comprising composable modules and a unified trust layer. This stack is intended to drive the adoption of DePIN (Decentralized Physical Infrastructure Network) and is supported by a token economy that connects DePIN dapps, Layer 2 chains, and devices. Chai emphasized that IoTeX’s infrastructure will enable seamless connectivity between DePIN developers and AggLayer, empowering users to engage with DePIN applications across various blockchains.