Union Labs, a challenge centered on blockchain interoperability, plans to combine with AggLayer, a decentralized service rolled out earlier this yr by the developer Polygon Labs that enables for the sharing of liquidity amongst related networks.
The deal is notable as a result of it might deepen the hyperlinks between Polygon, one of many greatest Ethereum scaling networks, and the Cosmos blockchain ecosystem and its Inter-Blockchain Communication Protocol (IBC), the ecosystem of interconnected blockchains which Union has been constructing upon.
“The combination will unlock higher liquidity entry and motion between AggLayer-connected chains and IBC-enabled chains, guaranteeing a trustless, environment friendly and low-latency course of,” in response to a press launch.
Karel Kubat, founding father of Union Labs, mentioned the announcement marked “each tasks’ dedication to addressing the siloed nature of blockchains whereas upholding sovereignty.”
Union Labs, which introduced in November that it had raised $4 million, is planning its mainnet launch later this yr.
