I am sure most of you are into DeFi by now or at least know how yield farming works judging from all this hype around it the past few months!
Blockchains like Binance Smart Chain and Ethereum have skyrocketed in terms of transactions thanks to DeFi and this created a huge price spike in gas fees.
PolyDragon.io to the rescue
A few days ago I came across this new DeFi platform called PolyDragon.io (https://polydragon.io/) and after doing my research I decided to give it a go!
First of all, Polydragon is built upon Polygon and this means unmatched speed and almost 0 fees! Polygon fees are currenly 221,718x cheaper than ETH and 899x cheaper than Binance Smart Chain. The average fee for a transaction on Polygon is $0.00003969.
One more thing I loved about PolyDragon is their tokenomics. Fire Token has 1 Quadrillion static supply with deflationary burn mechanisms. I am not the best guy around to explain you how the tokenomics work due to my poor English so I'll just share this.
Read more about the Tokenomics
My Earnings
PolyDragon is a new platform so I decided to play it safe, invest a few bucks and see how it goes. I converted 3 MATIC to FIRE tokens, staked them in the Fire Den and I also added 2 MATIC and some Fire Tokens in the MATIC/FIRE LP.
I currently have 4 Billion FIRE tokens staked which are worth 3.5 MATIC according to https://quickswap.exchange/. Not bad at all if you consider that my initial "investment" is around 5 MATIC in total!
I think PolyDragon is a really promising platform and it's super-low fees combined with their Tokenomics can be a game-changer.
You might wanna take a look at this project while it's still early so here are a couple useful links to make your life easier.
PolyDragon Docs : https://polydragonfinance.gitbook.io/polydragon-finance/
Fire Token on Coingecko : https://www.coingecko.com/en/coins/fireball
I am still a complete noob when it comes to DeFi so don't take my word for granted. Do your own research when it comes to investing.
Thank you all for your support
Hope you enjoyed reading my blog and learnt something new today! Hive ecosystem is HUGE so if you want me to cover any other topics leave a comment bellow and I'll try my best.
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Much love to everyone and always have fun.
@Knowhow92
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