Hello mates,
Today I want to share my latest love in DeFi applications, this time is not about the so famous Binance Smart Chain, but a very interesting competitor: Polygon (previous MATIC) chain. Polygon is a scaling solution for ETH making able to trad eit with lower fees. Polygon has even lower fees than Binance Smart Chain and the native token MATIC is cheaper.
But Polygon doesn't want to stay behind the fever of yield farming and liquidity pools as they also support smart contracts development.
So, today I'm gonna show you the first DeFi Applications already running in Polygon Network.
Let's start with Quickswap.
Quickswap is a fork of Uniswap in Polygon network. You can add liquidity and receive rewards for the fees, and also stake that liquidity into other DeFi applications and even mine some extra tokens. Interesting but not new.
On top of that, you can find DeFi projects that allow you liquidity mining and farming like PolyWhale, PolyFox, PolyCat, Adamant and PolyGaj (I really like the latter). I won't extend as this are forks of well-known platforms on ETH and BSC. Basically you add your liquidity or stake tokens and receive rewards in the form of native tokens, the ones you can stake again or sell. You can withdraw your liquidity or stake at any time. Interesting again, but not new. Just be careful.
There are also many games that are migrating to Polygon as they have really low fees, for example ZedRun, Neon District and CryptoColosseum.
This is a fast and simple review of what's going on Polygon, MATIC token rallied recently and is expected to reach $1 anytime soon, and I'm pretty sure that a lot of Dapps will be added to the ecosystem. Make sure you're not late for this one as I was for Binance Smart Chain.
Useful links
Review of Polygon by my hero CoinBureau:
Polygon whitepaper: https://polygon.technology/lightpaper-polygon.pdf
Quickswap exchange link: https://quickswap.exchange/#/swap