OnJuno adds support for ETH L2 solutions, starting with Polygon

OnJuno, the crypto app helping US citizens receive their paychecks in crypto, has added support for Ethereum (ETH/USD) Layer 2 solutions. Users can onramp directly to Polygon (MATIC/USD) and eventually other Layer 2 protocols. This is faster and cheaper than bridging assets manually.

Quick and cost-effective offramp

The offramp is fast and cost-effective as well. Users can offramp from Polygon directly to their OnJuno checking accounts. They don’t need to withdraw funds to Ethereum first. In the near future, it will be possible to get paychecks in USDC directly on Polygon, which is not the case now.

OnJuno supports mUSDC

OnJuno supports Matic USDC (mUSDC) and will provide support for additional assets over time. Polygon’s 345,000 daily active users will find taking part in the Polygon ecosystem easier by accessing instant on-ramps into mUSDC.

Earn ETH on first deposit

People new to OnJuno can use the referral code “POLYGON” to earn ether worth $50 as a bonus when they get their first direct deposit. OnJuno has coverage for half a million companies and 170 million American employees. It has staff from corporations like Google and Apple already receiving salaries in crypto.

Siddharth Verma, Co-Founder at OnJuno commented:

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.

Hamzah Khan, Head of DeFi and Labs at Polygon added:

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.