Demex Daily #104: Astar zxEVM Launch Pioneers Cross-Chain Integration on Polygon's AggLayer
What’s Interesting Today:
Astar Network has launched Astar zxEVM, a zero-knowledge layer-2 chain, on March 5, marking its integration as the first layer-2 chain into Polygon's AggLayer. This innovation enables cross-chain transactions between Astar and Polygon networks through AggLayer, which supports multichain smart contracts with zero-knowledge proofs, offering a seamless user experience akin to a unified network. The integration aims to bolster Astar's role in Japan's web3 development across various sectors, in line with the country's national tech strategy. AggLayer, announced over a month ago, is designed to simplify user interactions across chains, mimicking the ease of Web2 internet navigation by automating asset conversion and connection processes. This step is seen as crucial by Polygon's co-founder, Sandeep Nailwal, for creating a seamless multichain ecosystem with the potential for internet-scale capabilities in crypto.
Daehong Communications, a subsidiary of South Korea's Lotte Group, has partnered with Aptos Foundation to develop a Web3 hub for Lotte, which oversees around 90 business units. This collaboration will bring forth loyalty programs, NFT-based initiatives, and entertainment options within Lotte's Web3 hub. Plans include introducing loyalty programs, combating counterfeit tickets with new payment services, and leveraging NFTs for fan engagement and collectibles preservation. Daehong aims for global expansion of these Web3 projects, starting with collaborations like transferring BellyGom NFTs to Aptos for user rewards and powering the official loyalty program of the Baekho Eleven football team during the Qatar Asian Cup. Aptos, a blockchain service provider with a $3.7 billion market cap, is backed by significant investments and has recently experienced a 900% increase in user base following a partnership with the Indian social media platform Chingari, moving from Solana to Aptos for a better user experience.