By Alicia Maher
Top decentralized finance (DeFi) firm, Harvest Protocol, has announced deploying its yield aggregation instruments on Polygon (MATIC)’s smart contracts network.
Harvest Finance Launches “Yield Farming” Instruments On Polygon
Per a recent announcement via Twitter, Harvest Protocol says it would be leveraging Polygon’s smart contracts to launch its “yield farming” instruments.
Harvest Protocol announcement. Source: Twitter
Following this integration, it is possible now that harvest finance yield farming will be resource-efficient since Polygon (MATIC) fees are negligible, and it isn’t performing poorly. DeFi “farmers” without prior experience in high-level crypto protocols have had to pay high fees. Hence, the Harvest-Polygon integration will make DeFi entry easier for inexperienced investors.
Harvest Finance Revamps Strategies
Apart from improving its current strategies with better-sophisticated tools, harvest finance will also be providing new “yield farming” strategies. One of the unique strategies will be releasing separate vaults for tokens, and their fees will be much lower than those on Ethereum (ETH).
Harvest finance believes this will make their customers’ “yield farming” experience more profitable without hiccups.
More Polygon Partnerships
The UnFi protocol has also announced that Polygon will launch its multi-chain DeFi ecosystem. While UnFi is already launched on seven other blockchains, its new partnership with Polygon enables a broader DeFi marketplace through multi-chain linking and improving the UnFi community governance.
There will also be new additions to the protocol’s uTrade V2 for better token and project launches, such as personalized smart contracts, user-based listings, and token routing. Once the launch period is over, UnFi expects its uTrade to compete favorably with Metamask and will now collect trade fees using MATIC.
There have been various partnerships with Polygon recently. Earlier in the month, it announced a collaboration with balancer, a top DeFi protocol, to release completely new liquidity mining projects.
More Competition In The Multi-Chain Space
With more exposure and better options, it is understandable why DeFi projects are launching on various protocols. But, the real question is what these projects need to do to share a token community, especially as DeFi players increase and the multi-chain deployment wasn’t considered into their design.
Another problem is that most platforms that are claiming multi-chain still operate a centralized system. However, the UnFi platform is designed for multi-chain deployment.
The UNFI is the governance token of the ecosystem, and there are various rewards and special opportunities for UnFi holders. Token holders can vote and participate in the protocol’s activities and development.
Probit Global Celebrates Anniversary With MATIC Discounts
Top marketplace listing firm, Probit exclusive, has revealed that it would be celebrating its first anniversary with a one-week 50% subscription to its platform using the MATIC token. Probit exclusive was launched July 23, 2020, with the main aim of helping new crypto holders own portfolios of highly volatile cryptocurrencies like Bitcoin and Ethereum.
The probit team is celebrating using MATIC, seeing a 100x increase in performance after the MATIC network rebranded to Polygon. Polygon is now one of the leading layer two solutions in the virtual asset space.