Hong Kong, 8th 26th, 2021 – Flurry Finance has partnered with Polygon to extend practical cross-chain yield farming to the decentralized finance community.
The connection between Flurry Finance and Polygon reflects Flurry’s goal of enhancing its stable rhoTokens as a medium of exchange in daily transactions and keeping network fees low. This matches the Matic network’s modest fee structure, making Flurry Finance and Polygon a perfect fit.
Owners of rhoTokens can trade, spend and earn interest on the Matic network, while rhoToken’s underlying stablecoin pays interest to other chains. Flurry Finance actively monitors cross-chain conditions to deliver the best and uninterrupted returns with minimal risk for rhoToken holders. This means that the Flurry protocol provides a bridge to solve the problem of fragmented, cross-chain yield farming while drastically reducing the associated fees.
“More DeFi products are migrating to Matic. We see that the yield becomes attractive and switching between protocols on Matic is cheaper than on Ethereum due to the much lower gas fees. All of these are reasons for us to build on Polygon,” said Mike Ting, CEO of Flurry Finance.
With a simple and intuitive user interface, Flurry Finance facilitates deposits from Ethereum, pooling assets and bridging them in batches with the Matic network. This brings immense value to Polygon by directing the flow of Ethereum to the Matic network.
“We are excited to partner with Flurry Finance to make DeFi accessible to all. Since we always aimed to create a limitless world, it would take a simple and practical product to achieve this. Flurry would be a medium where everyone could enjoy the fast transaction time with lower fees that we bring,” said Asif Khan, DeFi growth specialist at Polygon.
Flurry Finance’s integration with Polygon follows the formation of a fruitful partnership with DuckDAO, a community-backed digital asset incubator working with promising early-stage crypto startups.
In July, Flurry Finance closed a $3 million funding round with investors including AU21 Capital, Genblock Capital, CoinUnited.io, One Block, Soul Capital and Dutch Crypto Investors.
Following the successful launch of the Flurry testnet in July, Flurry Finance will soon launch an initial DEX offering on the Cardano-based launchpad CardStarter for members of the crypto community who wish to own a stake in the Flurry governance token. The token gives holders the privilege to add or remove new yield farming strategies and assign risk factors to active systems.
Visit the Flurry Finance website for more information.
About polygon
Polygon is the first well-structured, easy-to-use Ethereum scaling and infrastructure development platform. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting secured chains like Plasma, Optimistic Rollups, zk-Rollups, and Validium, as well as standalone chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have found widespread adoption with over 500 decentralized applications, more than 567 million transactions and over 6 million daily transactions.
About Flurry Finance
Flurry Finance was created to make the DeFi user experience as convenient as possible and improve the usability of DeFi products. Flurry issues rhoTokens that are cross-chain interoperable, stable and flexible, generating profits for users and pegged to their underlying stablecoin on a one-to-one basis. The Flurry protocol is designed to monitor conditions across chains and present users with the optimal fee-adjusted returns, automating the tedious task of switching DeFi products in and out on different chains.
Website: https://flurry.finance
Telegram: https://t.me/FlurryFinance_Official
Telegram news channel: https://t.me/FlurryFinance_News
Twitter: https://twitter.com/FlurryFi
Medium: https://medium.com/flurry-finance
media contact
Alison Cheng, Director of Digital Marketing
This publication is sponsored. Cointelegraph endorses and is not responsible or liable for the content, accuracy, quality, advertising, products, or other materials on this site. Readers should do their own research before taking any action regarding the Company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any content, goods or services mentioned in the press release.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.