Week In Polygon News #6
A weekly newsletter covering key developments across the Ethereum and polygon ecosystem from 27th August 2021 to 3rd September 2021
📰 Trending News
Offchain Labs, the leading provider of scaling solutions for Ethereum, announced that its Arbitrum One mainnet will open to the public today. The company also announced it has raised $120M in funding, with its latest Series B funding round led by Lightspeed Venture Partners. Other newly announced investors in the round include Polychain Capital, Ribbit Capital, Redpoint Ventures, Pantera Capital, Alameda Research, Mark Cuban and others. Ravi Mhatre from Lightspeed has joined the company's board with this round.
Acura Network Receives Developer's Grants and Polygon's Full Support in Building DeFi2.0
With Acura's scaling platform development, Polygon has sought interest and has given grants, fully supporting the development of DeFi2.0 powered by Acura. Acura Network is the first redefined decentralised trading platform, auto liquidity protocol, swap aggregator with analytical charts, and tools in one hub.
🛠Polygon Updates⚙
Okcoin announces Matic Listing
Find Polygon (MATIC) on Okcoin starting September 1. To celebrate, we’re doing a MATIC giveaway and launching an exclusive NFT collection in collaboration with The Most Famous Artist Community and Polygon. And MATIC staking is coming soon .
Alliance Block Extends Its Solution To Polygon
One of the key objectives of AllianceBlock is making sure our interoperability, compliance and liquidity solutions are benefiting top blockchain ecosystems. In recent weeks we have extended our product suite’s reach to Binance Smart Chain, Avalanche’s Pangolin DEX, and most recently Elrond. Today, we’re especially excited to announce our partnership with Polygon, one of the fastest-growing DApp platforms in the DeFi space.
To anyone following the DeFi industry, the rise of Polygon has been difficult to ignore. With its near-instantaneous transaction speed and low transaction costs, this blockchain platform has seen an influx of investors and DeFi projects alike. This mass migration has translated into real metrics for the ecosystem: The Block’s data shows the total gross value locked (TVL) in Polygon’s smart contracts rose from just over $151,000 at the beginning of 2021 to over $6.31 billion in early August, an increase of around 4,178,708%.
StaFi listed the rMATIC/ MATIC trading pair on Quickswap
StaFi listed the rMATIC/ MATIC trading pair on Quickswap and the liquidity pool is around 200K $USDT, rMATIC holders can trade and add liquidity on QuickSwap.
Cook finance launches on Polygon
Cook Protocol is a trustless, transparent and well-incentivized cross-chain asset management platform that allows investors and fund managers to manage their crypto assets through highly customized cross-chain investment portfolios. We provide investors with a wide variety of asset management services and fund managers with advanced trading tools, highly liquidized funds and provide access to leveraged diversification. The Cook team is setting out on the mission to bring decentralized finance to the masses and revolutionize the DeFi space by focusing on the three pillars of interoperability, usability and capital efficiency.
Polygon August Adrenaline Series — Aavegotchi
Polygon has been one of the fastest-growing Dapp platforms for Ethereum scaling, rapidly becoming the de-facto standard for DeFi, NFTs, and Blockchain Gaming with500+ Dapps, ~7M daily txns, and 1.8M+ unique wallets.
The rise of gaming on Polygon has been especially noticeable, with more than 100,000 blockchain gamers on Polygon and top Web 3 games, and Aavegotchi is one of them, building high-quality gaming experiences thanks to Polygon’s high speed and fast confirmation times.
Banger Games is excited to announce that it is bringing on Polygon layer 2 availing solution for low-cost, high-speed transactions.
One of the key strengths of Banger Games, a platform for gamers that connects and rewards users for completing objectives and for contributing towards the growth of its Internet of Gaming (IoG) ecosystem, is its own cryptocurrency, Bombcoin.
KamPay Token is now live on Polygon. With KamPay, African users can participate in micro-lending programs & enjoy decentralized finance like never before. Kampay has established a bridge to Polygon that will enhance their interoperability features.
Introducing Eleven Finance Leveraged Yield Farming
With our launch on Polygon we will allow users to supply assets to a number of eleBANKS. These take deposits on single assets and reward lenders with an interest bearing equivalent token. The interest earnt by these tokens comes from a variety of sources:
Funds leant to borrows accrues an interest rate paid by the borrower
Funds not needed for lending on Eleven’s Leveraged Yield Farming are utilised in other protocols to earn a return (rather than laying dormant)
Further to this lenders accrue $ELE token rewards
Lenders may also benefit from additional incentivised lending opportunities as our platform matures (more on this in the future).
Those who know, have known for a while, we have been planning a roll-out of our new and improved leveraged yield farming platform on the Polygon network for some time now.
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