Polygon Network has inked several DeFi-adoption boosting partnerships for the masses.
Ethereum’s Internet of Blockchain has now partnered with crypto’s global neo-bank, Cashaa. Cashaa is the “new era of Business Banking.” The multiple award-winning international banking solution (Cashaa) serves the “biggest community of crypto businesses.” Cashaa’s partnership with the Polygon Network would facilitate processing large crypto transactions with low ethereum network fee.
Cashaa’s Earn and Lend products will now be implementing Polygon’s native MATIC tokens. Masses will now easily access DeFi technologies, increasing its adoption in a low transactional fee environment. Peer-to-peer trading will get swift now on the Ethereum-compatible Polygon MATIC blockchain. With Cashaa, Polygon MATIC (a layer 2 solution) will offer a bridge for users to enable swift transfer of their (Cashaa native) CAS tokens from BSC to the Polygon Network. Quick (near-instant) processing speed, set up fee discounts, low international wire cost, exchange, and transaction fee rebates are the new features for the Polygon Network with Cashaa.
African crypto exchange Quidax has integrated with Polygon Network. MATIC is now listed on the Quidax exchange. Quidax users can now access Polygon’s architecture (and projects) — i.e., lending, borrowing, staking, gaming, NFTs, etc. Quidax is excited to partner with Polygon to bring DeFi and CeFi services to Africa on its 3rd anniversary.
The Polygon Network is now home to a cross-chain derivative trading platform—Kine Protocol. The Kine Protocol offers general-purpose liquidity pools with a support of customizable digital assets’ portfolio. Kine Protocol allows users to open and close derivatives positions without counterparties. It eliminates the current restrictions surrounding the peer-to-pool trading protocols. The Polygon Network says this partnership would enable seamless DeFi dApps’ integration with other dApps.
In an enhanced composability across ecosystems, the Polygon Network (with Kine Protocol) users will now access “Sushiswap, Curve, Aave, Balancer, at a low cost.” Its staking, minting, burning, rewards, and liquidity farming features will now be even faster with the Polygon Network’s high-speed and low-gas. Polygon’s aim of bringing blockchain infrastructure to the masses is close to reality now.
In yet another partnering development, the Polygon Network is set to offer crypto assets bridging via RenBridge. Ren is an open protocol for moving value across blockchains. RenVM Bridge is now Polygon compatible wherein users can mint and burn the assets on Polygon. This direct bridge lets you deposit / withdraw to and from Polygon with a really low gas fee.
Ethereum’s top scaling solution is acing accesses on its network to augment DeFi’s mass appeal. With DeversiFi, Polygon Network has made USDC, DAI, and USDt bridging transfers possible. DeversiFi is an L2 DeFi trading platform aiming to increase liquidity across blockchains via its Polygon partnership.
Continuing its network utility endeavours, the Polygon Network has introduced effective gateway improvements lately. The Polygon RPC is now live and “aims to provide a fast and reliable RPC gateway to the Polygon Network.”
Polygon’s incessant commitment to bring affordable DeFi to the masses is apparently obvious. As per the latest Polygon User Insights published on Polygon’s Medium blog. The Network has 157,000+ DAU (avg.), 4.7mm transactions / day (avg.), and $22K / day revenues (avg.).