Ethereum-based payroll tool Sablier expands to Polygon and Binance Smart Chain 🚨 This article is 3 years old...
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Ethereum-based payroll tool Sablier expands to Polygon and Binance Smart Chain
Compared to Ethereum gas fees, the launch of Sablier on Polygon will reduce gas fees for users by an anticipated 676,750%, while the Sablier deployment on Binance Smart Chain will lower gas costs by more than 12,000%.
2 min read
Updated: Nov. 17, 2021 at 7:51 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Sablier, the protocol for real-time finance on Ethereum, yesterday announced the launch of its infrastructure on Polygon and Binance Smart Chain to offer upgraded efficiency and reduced usage fees.
The deployments across these chains make it possible for an expanded user base to leverage Sablier for streaming payroll, payments, and subscriptions.
Gas fees reduced by several thousand percent
Compared to Ethereum gas fees, the launch of Sablier on Polygon will reduce gas fees for users by an anticipated 676,750%, while the Sablier deployment on Binance Smart Chain will lower gas costs by more than 12,000%.
Until now, Sablier’s primary usage came in the form of token-vesting for teams, as the Ethereum gas fees have limited additional uses. Strong community demand coupled with elevated Ethereum gas fees prompted the Sablier team to explore alternative options for users.
“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,” explained Paul Razvan Berg, Founder of 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,” he added.
Newer crypto usecases
The growth of the cryptocurrency market has paved the way to new use cases, as more than 46 million Americans now own crypto, and another 50 million expect to purchase crypto soon. As digital assets continue to become more commonplace, distributing salaries in cryptocurrency is a crucial next step toward mainstream adoption.
With Bitcoin becoming a legal tender in El Salvador, and major cities like Miami considering paying employees in crypto, it is critical that efficient, cost-effective, and user-friendly tooling infrastructure is in place to support such endeavors.
“mStable was a very early adopter of Sablier and have trusted the protocol to stream investor, team tokens allocation and even DAO salaries,” commented James Simpson, Founder of mStable. “Sablier on BSC and Polygon will enable users to access their great product without the friction of high transaction costs.”
The Polygon Bridge can be used to move assets over to Polygon, and the Binance Bridge can be used to migrate funds over to the BSC network.
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