The money-streaming protocol aims to reach to a wider user base and reduce gas fees drastically through their latest expansion.
Decentralised Finance (DeFi) protocol Sablier announced the launch of its infrastructure on Polygon and Binance Smart Chain to offer upgraded efficiency and reduced usage fees.
Described as a protocol for real-time finance on Ethereum, it aims to create a real-time payment view via a process known as “money streaming”. Users can set a lock-up value with a start and stop time, and Sablier’s smart contracts calculate a payment rate per second to transfer the money from the sender to the recipient.
With the recent expansion to the two chains, Sablier can reach out to a wider audience to stream payrolls and payments while reducing gas fees sharply for users. The team foresee the launch of Sablier on Polygon to reduce gas fees by 676,750%, while the Sablier deployment on Binance Smart Chain will lower gas costs by more than 12,000%. Moreover, 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.
“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,” said Paul Razvan Berg, Founder of Sablier.
Sablier’s primary usage comes in the form token-vesting for teams, but a strong community demand and elevated Ethereum gas fees prompted the Sablier team to explore alternative options for users. Sablier anticipates the ability to stream tokens with lower fees on Polygon and BSC will enable more users to tap on the protocol and create new use cases.