Ethereum scaling platform Polygon has surpassed 37,000 decentralized apps this year. Can Youniverze Finance keep up?

As the crypto market takes an about-face, many have feared that the DeFi empire will not recover from the abrupt decline. The main reason for such fears was that DeFi was not doing well even before the start of the crypto winter. The scandal involving the Frog Nation and their twice-convicted criminal serving as the project’s treasury, coupled with Andre Cronje’s exodus and the immediate collapse of Terra, did not help the situation.

Crowned by the current legal battle the crypto industry is going through and the SEC set to take names, the future of DeFi looks pretty bleak at first glance. However, if you look closely, there is a light at the end of the tunnel, and chances are we will see the renaissance of DeFi. Namely, the latest industry report suggests that the number of decentralized applications (DApps) on the Ethereum scaling platform Polygon has surpassed more than 37,000, an increase of 400% since the beginning of 2022!

In today’s editorial, I want to reflect on what this could mean for the DeFi industry and whether other projects can match Ethereum, which plans to continue to dominate. Let’s dive in.

Polygon: Bring the world to Ethereum

The Polygon (MATIC) team revealed the above numbers in a blog post Wednesday, sourced from partner Web3 development platform Alchemy. It should be noted that the figure shows the cumulative number of applications ever launched on both testnet and mainnet, which is still remarkably impressive.

A list of projects hosting Polygon’s Ethereum Virtual Machine (EVM) compatible Proof-of-Stake (PoS) blockchain for DApp development is nothing short of impressive. These brands include OpenSea (the largest NFT marketplace), Metaverse platforms Decentraland and The Sandbox (two of the largest Metaverse games), decentralized finance (DeFi) lending platform Aave, and NFT venture fund/gaming Company Animoca Brands.

What is Polygon’s recipe for success?

While it’s difficult to pinpoint a single reason for Polygon’s overwhelming success, there is a possible explanation. In early 2022, the project announced its partnership with Alchemy to become a major driver in the rise of network-built DApps. Subsequent collaboration greatly facilitated the Web3 platform infrastructure for Polygon developers to build DApps, thereby accelerating the mass adoption of Ethereum (ETH).

Can Youniverze Finance keep up?

Despite being an upcoming project, the Youniverze Fiance (YUNI) has the potential to challenge the competition. One of the reasons for its potential success lies in its value proposition, which is detailed in the project’s white paper. Youniverze Finance aims to become the ultimate multichain go-to platform for crypto trading, sourcing and bridging around the world.

According to NEWSBTC, it will offer its users an easy-to-navigate platform where anyone, regardless of their knowledge of crypto, can enjoy DeFi with a seamless experience. To accompany users on this exciting journey, the platform will allow to transfer assets across blockchains and find the cheapest swap trades available in the market.

In addition, several DeFi services such as staking would also be available, a process for locking tokens within the protocol, which would reduce the number of tokens in circulation in the market and consequently increase the price of the token. Users who stake tokens receive a share of the fees charged by Youniverze Finance from the ecosystem’s liquidity pools. So, if you’ve always wanted to try the daring world of DeFi, Youniverze Finance could be a place to start.

What to make of it

All in all, the future of Polygon and Ethereum looks brighter than ever. Considering that the crypto winter is finally over, we should expect more dapps to appear across the board.

Regarding the new kid on the crypto block, Youniverze Finance, it’s too early to say anything specific as the world of DeFi is a ruthless place that leaves little room for competition. Nonetheless, the project looks solid and you should definitely check it out. However, always remember to do your own research.

If you want to learn more about Youniverze Finance, visit this website.

Youniverze (YUNI)

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