Binance US now supports the abstract chain, so that we can deposit ETH users and withdraw it on the Layer 2 network without bridging.
Summary
- The integration is part of the broader expansion of Binance US from Ethereum Layer 2 support, after previous acceptance of the basic network for ETH and USDC transactions.
- Abstract chain, developed by Igloo Inc. And supported by investors, including Peter Thiel’s Founders Fund, provides scalable, cheap transactions with functions such as account abstraction and social login.
Binance US has an integrated abstract chain, a recently launched Ethereum Layer 2 network, with which American users Ethereum (ETH) can deposit and record without the need for bridging. This means faster, cheaper and safer transactions for users who have access to the abstract ecosystem, including the Dapps and NFT platforms.
The integration is part of the continuous efforts of Binance US to expand the support for Ethereum Layer 2 solutions. Earlier this year, the platform added support for the fast -growing basic network, so that users can deposit and record ETH and USDC via this layer 2.
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Abstract chain, developed by Igloo Inc., the team behind the popular Pudgy Penguins NFT collection, launched in January of this year as a consumer-oriented Ethereum Layer 2 solution. Investors, including Peter Thiel’s Founders Fund, supported the project with a total of $ 11 million in July in July. The abstract chain, which uses ZK rollups and Eigenenda technology, provides scalable, cheap transactions, while functions such as account abstraction and social login support are designed to lower barriers for new crypto users.
The integration with Binance US is the newest development that contributes to the growing acceptance of the abstract chain on large platforms, including Magic Eden for NFTs, UNISWAP for decentralized trade and Saasify for blockchain gaming and launching services.
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