PARSIQ adds support for Polygon

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PARSIQ is also integrated into Layer 1 blockchains like Bitcoin, Ethereum and Solana.

PARSIQ integrates Polygon

A few days after unveiling its OpenSea integration, PARSIQ announced another expansion.

The on-chain data monitoring tool now supports Polygon, which means users can track activity in its ecosystem. PARSIQ CEO Tom Tirman said of the update:

“PARSIQ is delighted to offer Polygon users our suite of products, such as smart triggers and the TRACKR portfolio, enabling real-time on-chain activity-triggered automations and providing enhanced security services. With Polygon, we share a common goal: to bring blockchain technology to the world, and we are excited about the potential of this ongoing partnership.

PARSIQ’s flagship offering is “Smart Triggers”, contracts that can be used to collect blockchain data and receive it off-chain. They act as a bridge between on-chain and off-chain data. PARSIQ describes the product as a ‘reverse oracle’ solution because it can be used to trigger real-world actions based on blockchain activity. Smart triggers can already be used on Bitcoin, Ethereum, Solana, and Binance Smart Chain.

Polygon’s expansion comes in the midst of a period of high activity on the network. The Ethereum scaling solution has seen parabolic growth this year, aided by rising gas charges on Ethereum itself. Several Ethereum-native DeFi apps launched on the network with generous cash-extracting rewards earlier this year, including Curve Finance and Aave. This prompted yield farmers to migrate to the network and helped the price of its native token, MATIC, skyrocket.

Polygon has also expanded in recent weeks, adding a new ZK-Rollup solution in an effort to help Ethereum scale to Layer 2. Yet with several other Layer 2 solutions currently being launched on Ethereum, we don’t does not know what the new environment will mean for Polygon and if PARSIQ will eventually expand to new solutions as they develop.

Disclosure: At the time of writing, the author of this feature owned ETH, CRV, AAVE, MATIC, and several other cryptocurrencies.

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