April 21, 2021: Polygon in 60 Seconds ποΈπ¨
Curve the latest DeFi project racing towards Polygon
The multifaceted Curve empire has intersected upon Polygon.
Geometrically speaking, you might think a curve would be the antithesis of an angular polygon. Fortunately within the blockchain world, theyβre a natural fit.
Many upstart DeFi projects struggle to lock tens of millions in value. Curve got this overnight.
Fortunately for DeFi users, Polygonβs architecture lends itself perfectly for all your favorite gas guzzling Ethereum apps. Polygon, neΓ© Matic, uses four primary layers. One of these is an Ethereum layer, and its execution layer is also EVM compatible, which means itβs relatively straightforward to port apps from Ethereum to Polygon.
This sets Polygon apart somewhat from competitors like Polkadot and Cosmos. The EVM compatibility has meant that several DeFi protocols have already landed on Polygon.
Aave has already made the jump to Polygon, and indeed is the first pool on Curveβs polygon branch.
In fact, the Aave pool is off to such a great start itβs already increasing the A parameter (c/f @nagakingβs research).
Polygon also hosts Paraswapβ¦
β¦and SushiSwapβ¦
β¦now the only thing missing in Polygon land will be a modern logo.
If youβre interested in the technology, itβs worth diving into. Itβs been well constructed as to solve several Ethereum scaling problems, and itβs a direct result of this sharp design that so many projects are moving so swiftly onto their architecture.
With gas fees so expensive, itβs certainly worth giving it a shot. Curve already put up helpful instructions on using Polygon, which you can do easily in MetaMask.
With BSC starting to throttle the life out of geth, itβs possible to imagine a universe where Polygon becomes the major hub of DeFi activity.
Now you can implement all variety of great trading strategies on Polygon.
Or you can just stake Curve on the classic site and eventually earn yield from Polygon
Needless to say, the ape energy is strong.
For more info, check our live market data atΒ https://curvemarketcap.com/Β or our subscribe to our daily newsletter atΒ https://curve.substack.com/. Nothing in our newsletter can be construed as financial advice. Author is a Curve maximalist, owns no $MATIC.