Cryption Network: DEX Revolution Dawns on Polygon
Cryption Network is a high-utility platform focussing on easing the DeFi experience for new users. It aims to increase retail investors’ adoption via simplified onboarding. Dubbed to be the retail investors’ go-to-platform for accessing DeFi 2.0 product suite. The Cryption Network has set elimination of the market volatility as one of its core objectives.
The Cryption Network investors: Polygon’s (co-founder) Sandeep Nailwal, GravityX capital, Master Ventures, Ascensive Assets, X21 Digital, Waterdrip Ventures, M AU21, GenBlock, and Humayun Sheikh (CEO of Fetch.ai).
Also offering Elastic Yield Farming (EYF) solutions, Cryption’s future-ready set of products are: PolyDEX — L2 Swap (Elastic Farming, CNT Deflation, Seer) and the Cryption Wallet App (Non-Custodial Portfolio Management, Ether Rush, DeFi Stack, and NFTs).
PolyDEX: The “PancakeSwap of Ethereum”
PolyDEX is dubbed to be the “PancakeSwap of Ethereum,” using L2 with zero gas fees. Yes, on-chain transactions’ high GAS fees will soon be passé, courtesy of the Cryption Network (and PolyDEX). Swap, farm, invest, and predict with Cryption’s user-friendly and swift DeFi 2.0 products. Following the launch of its PolyDEX on the Polygon Network (earlier in August). By now a number of partnerships worth noticing are inked by the Cryption Network.
PolyDEX: The New DEX Era
PolyDEX intends to transform entirely the DEX ecosystem with its future-ready, swift, gasless, cross-chain AMM DEX. PolyDEX’s unique EYF farming is presently live on Polygon Mainnet. The EYF farming is poised to incentivize liquidity on PolyDEX, whilst also transferring from Ethereum to MATIC the liquidity. Millions of users are poised to be onboarded to the DeFi (and crypto) ecosystem with PolyDEX’s gasless and seamless trading.
PolyDEX Farms, Staking Pools, Lotteries
Stake CNT ($0.146) to earn CNT (91.6% APR). Their staking webpage shows a total of 819,662.79 ($119,308.48) staked CNTs as of this writing. A portion of MATIC gets converted to CNT to make available enough liquidity. The resulting DFYN LP (MATIC + DFYN) tokens also get staked. PolyDEX App offers automated cross-chain staking. “Users holding CNT on Ethereum Mainnet can directly stake on Polygon in a single click.” Polygon staking intermediator, upon receiving the tokens / data (sanitizes it), enrolls them into a HybridStaking contract. The PoS of MATIC is used for transferring CNT from Ethereum. PolyDEX has core and multi-reward farms. There’s the USDC Lottery and Second L-USD Lottery, as well. Available Staking Pools are MATIC, ETH, wBTC, USDC, DAI, USDT, LUSD, and LARTH.
Cryption Network’s Weekly Burn Schedule includes a percentage of the trading fees used weekly to burn CNT tokens. PolyDEX’s Initial Farm Offerings (IFO) will enable partner projects to multiply liquidity via dual farming tokens. As of writing this article, the Total Value Locked (TVL) across all PolyDEX LPs and Pools is $2,759,882.
Cryption Network’s Weekly Burn Schedule
CNT tokens’ supply reduction is done via a weekly burn schedule to ensure CNT’s deflationary feature. On September 1 (2021), the 5th weekly burn took place. The 14th weekly burn is scheduled for November 3 (2021).