OnJuno, the crypto app helping US citizens receive their paycheck in crypto, has added support for Ethereum Layer 2 solutions, starting with Polygon.
Current Ethereum payment solutions suffer from high gas fees, making it difficult for users to transact as they please. By adding support for Layer 2 assets, OnJuno users can onramp directly to Polygon and eventually other Layer 2 protocols, saving time and money over the traditional method of bridging assets manually. The off-ramp is also quick and cost-effective: you can off-ramp from Polygon directly to your OnJuno checking account without the need to withdraw your funds to Ethereum first.
Soon, you can also receive your paycheck in USDC on Polygon directly — something that wasn’t possible before today.
To start, OnJuno supports Matic USDC (mUSDC) within the Polygon network, though additional assets will receive support over time. Polygon has a vast community of 345,000 daily active users and more than 7,000 DApps. By accessing instant on-ramps into mUSDC, these users will find it easier to participate in the Polygon ecosystem and experience the freedom that crypto payments can provide.
Users who sign up with OnJuno can use the referral code “POLYGON” and earn $50 worth of ETH as a bonus upon receiving their first direct deposit. OnJuno has coverage for 170 million American employees, 500,000 companies, and has employees from Apple, Amazon, and Google already getting their paycheck in crypto. For the rest of them, OnJuno offers manual direct deposit forms as well.
“2022 is going to be all about Layer 2 adoption and we at OnJuno want to lead this change from the forefront. Since OnJuno sits at the sweet spot between crypto and banking, we are very well positioned to lead this change. Starting with the community, which is very close to our hearts, we are extremely proud to announce support for Matic within OnJuno.
“We have personally spent hours trying to get our first purchase on Polygon and understand the pain points in getting onboarded onto Layer 2 via the existing bridging infrastructure.
“We have solved for both cost and convenience by adding support for Polygon within OnJuno, and we intend to be the best Layer 2 on/off-ramp solution in the market! Users can now go from a checking account to Layer 2 in a single click. This was unthinkable a few years ago but it is a new reality. Layer 2 is inevitable at this point.” — Siddharth Verma, Co-Founder at OnJuno.
Hamzah Khan, Head of DeFi and Labs at Polygon said, “As we inch closer to a fully digital economy, improving payment versatility between Web2 and Web3 will be critical. OnJuno’s onramp from Web2 to Polygon’s thriving Layer 2 ecosystem serves as a vital step toward that goal — allowing users to directly bypass the prohibitive gas fees, and throttled transaction speeds associated with Ethereum.”
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: Layer 2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 7,000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your dApp, get started here.
OnJuno has an ambitious vision to power the next wave of billion crypto users by helping them invest, earn and save cryptocurrencies right from the safety of an FDIC-insured checking account. OnJuno’s core feature, “get paid in crypto”, is currently backed by Sequoia, Polychain, Consensys and #Hashed. The team built the Nuo protocol, one of the earliest lending platforms in DeFi. Nuo was the first to introduce contract wallets and meta transactions to simplify the user experience. Nuo processed over $100 million in margin loans and was one of the top five protocols on DeFi pulse in early 2019.
Today, the same team is passionately building OnJuno – an app used and loved by employees from Apple, Google, Amazon, and crypto natives alike. By seamlessly converting paycheck to crypto and enabling crypto spending in the real world, OnJuno gives its members the financial freedom they deserve.
More on OnJuno here: https://onjuno.com