Sablier, the real-time finance protocol on Ethereum, made a significant announcement today, detailing the launch of its infrastructure on Binance Smart Chain and Polygon. The launch will enable reduced usage fees, coupled with upgraded efficiency.
A Larger User Base Can Now Leverage Sablier
Sablier’s launch and presence on multiple chains makes it possible for a significantly larger user base to use the protocol for payments, subscriptions, and streaming payroll. Sablier’s launch on Polygon will result in the reduction of gas fees by 676,750% for users, while the Binance Smart Chain deployment will reduce gas fees by over 12,000%.
Possible New Use Cases
So far, Sablier’s use cases were fairly limited, with its primary usage limited to token-vesting as Ethereum gas fees have very limited additional uses. Sablier began exploring alternative options due to two factors, strong community demand and extremely high gas fees. Polygon and Binance Smart Chain would allow users to stream tokens with relatively lower gas fees, allowing more people to access and experiment with Sablier and developing several new use cases.
Lowering The Entry Barrier For New Users
Commenting on the announcement, the founder of Sablier, Paul Razvan Berg, stated that he believed that Sablier’s release on the Binance Smart Chain and Polygon would significantly lower the entry barrier for new users and take them closer to a hyper-liquid economy.
“We are delighted to announce the release of the Sablier protocol on Polygon and Binance Smart Chain(BSC), significantly lowering the barrier to entry for new users and bringing us a step closer to a hyper-liquid economy powered by Sablier. Polygon and BSC have each been one of the fastest-growing blockchains in the past few months with the support of projects like Aave, Curve, or Sushiswap and investors like Mark Cuban for Polygon, and the genesis of a completely new ecosystem for Binance Smart Chain.”
Digital Assets Becoming Mainstream
Cryptocurrency’s growth and popularity have paved the way for several use cases. Currently, over 46 million Americans own crypto, with another 50 million waiting in the wings and planning to purchase crypto sooner rather than later. With soaring popularity, we will soon begin to see the disbursal of payments and salaries in crypto as a crucial step towards mainstream adoption.
BTC has already become legal tender in countries such as El Salvador, while major American cities like Miami are considering paying city employees in cryptocurrency. With such endeavors seeing significant growth, it is essential to have cost-effective and user-friendly tooling infrastructure to support them.
James Simpson, the founder of mStable, which was one of the earliest adopters of Sablier, stated that he believes that Sablier’s infrastructure on Polygon and Binance Smart Chain will enable users to access it without having to worry about high transaction costs.
The Head of Decentralization of ShapeShift, Willy Ogorzaly, believes that Sablier’s expansion on Polygon and Binance Smart Chain provides users with a cheaper option and would open the doors to smaller streams that were earlier prohibited by cost.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.