Canto, a Cosmos-based layer1 network, plans to migrate to Ethereum (ETH) and become a layer-2 network.

Following the news, the CANTO token jumped by nearly 13% to $0.1285 as of press time, according to CryptoSlate’s data.

Canto to build on Polygon.

Canto core developers will build a zero-knowledge rollup on Ethereum Layer-2 using the Polygon (MATIC) Chain Development Kit. Polygon Labs says Canto can tap “the liquidity of a unified Polygon ecosystem with easy access to Ethereum.”

“By joining a growing number of chains that extends blockspace, the move reflects a significant step toward a “neofinance” future, or the protocolization of existing finance,” Polygon added.

Polygon co-founder Sandeep Nailwal expressed delight with the move, noting that Canto’s migration would “turbocharge …