Morpheus Labs, a leading blockchain-platform-as-a-service provider for developers to rapidly build dApp and DeFi solutions across different blockchain protocols – has now teamed up with Polygon to be on their network.
MITx token was initially minted as an ERC20 utility token for users to use the platform. Launching MITx on Polygon means users and token holders are able to utilise this new network – providing them with more options and also save on gas fees and faster transaction processing time.
Following the initial launch of MITx on Polygon PoS Bridge in July 2021, Morpheus Labs deployed a campaign staking dApp (beta) to Polygon mainnet one month later and is now running a test to stake MITx ERC20 tokens on Polygon. This integration with Polygon indicates Morpheus Labs’ attempt to build scalable and more efficient decentralized applications, is becoming a fast reality.
Polygon, a highly scalable level 2 network for Ethereum and being one of the biggest and most popular Ethereum scalability solutions, has become a preferred choice for developers to build and run decentralized applications so as to take advantages of cheaper gas fee, faster and reliable processing, support for meta transactions (gasless transaction) and Ethereum compatibility.
In addition, DeFi apps developed on Polygon have already been tested on Ethereum. This gives users more confidence to build faster and lower-cost DeFi apps as more complicated DeFi transactions typically cost more gas.
Morpheus Labs is a go-to platform for development of dApp and DeFi applications on multiple blockchain protocols. Polygon intelligently solves the problems e.g. high gas fees and slow speeds with the Blockchain technology, without compromising on its security. It provides a framework and adapters to enable interoperability across Ethereum-compatible blockchain networks.
Morpheus Labs will perform integration with Polygon protocol to
- support “zero-gas” transaction and instant transaction finility in decentralized solutions;
- use MITx on Polygon for subscription to Morpheus Labs SEED platform which will improve user experience with “zero-gas” and faster payment processing;
- build dApps, NFT and DeFi solutions using Polygon protocol to connect and interoperate on Ethereum-compatible networks.
Quote from Sandeep Nailwal, Co-founder and COO of Polygon Network:
“Morpheus Labs is a Blockchain platform As-a-Service provider. Their focus on core fundamentals such as the education sectors are real world business solutions provider – is a welcome inclusion into our Polygon Network. With Morpheus Labs core product, ML SEED platform onboard our Polygon chain, together, we can offer developers globally to build, design and manage decentralized blockchain solutions – at accelerated and affordable pace.
At Polygon, we welcome blockchain projects from various offerings that add value to the overall blockchain ecosystem. With valuable blockchain projects such as Morpheus Labs onboard our Polygon chain, we can accelerate adoption of blockchain technology to the masses through our Polygon Network. Welcome Morpheus Labs!”
Quote from Bruce Lu, Co-founder and CTO of Morpheus Labs:
This opportunity to build on the Polygon network has provided Morpheus Labs to reach out to new target markets and segments. Being on the Polygon network has allowed us to offer developers faster processing time with lower gas fees on our MLSEED platform. With the inclusion of ML SEED on Polygon, this epitomizes our deliverance on providing developers a platform that focuses on ease and accelerated decentralized blockchain development solutions.
The team and I are looking forward to providing developers globally with improved solutions on the Polygon chain. Thank you to the team at Polygon and those that made this possible”
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 500+ Dapps, ~567M+ txns, and ~6M+ daily txns.
About Morpheus Labs
Morpheus Labs is a Singapore-based blockchain-platform-as-a-service provider offering the most powerful tools, scalable infrastructure and ready-to-use solution templates for enterprises and blockchain developers on the multi-cloud capability to build, deploy and manage innovative applications with cost and time efficiencies. The platform offers a multitude of intuitive solutions that enables developers and enterprises alike to take advantage of its platform to build effective solutions for various use cases.
Morpheus Labs have been partnering with tech giants to make blockchain more accessible and economical, even for individual developers who have the entrepreneurial dreams to develop innovative solutions to benefit the society. One of our largest partners is Huawei as they have been heavily investing in the Fintech scene in recent times.