April 28th, 2021 at 3:30 pm UTC · 2 min read
Blockchain scaling network Polygon has announced a $100 million fund to make the decentralized finance space more accessible to end users. The fund, dubbed #DeFiforAll, aims to efficiently onboard the next wave of users to decentralized products and platforms.
Sandeep Nailwal, Co-Founder and COO of Polygon, said:
“Polygon is committed to making defi accessible to the next million users, and we hope to achieve this through the #DeFiforAll Fund.”
“We want to support the top defi protocols on Ethereum and help them scale and grow with Polygon.”
Popular defi protocols such as Aave and Curve have already migrated to Polygon, bringing an influx of new users with them. Open-source protocol Aave, for example, has seen over 7,500 users lock $1 billion in liquidity within weeks of launch, with the platform recently launching a new program enabling lenders and borrowers to earn more rewards.
The #DeFiforAll Fund was created with the objective of bringing the benefits of defi to a larger user base that has been priced out of participating up until now. The fund, which will support defi over the coming 2-3 years, aims to entice more casual crypto users into the industry.
Layer-two Polygon has enjoyed a steady rise in user activity and transactions in recent months following its rebrand from Matic Network. As well as integrating with established DEXs such as SushiSwap, the ultra-fast network has seen record liquidity and trading volume on its native Quickswap exchange, whose daily transactions surpassed those of Uniswap on April 26.
Interested parties can learn more about the #DeFiforAll Fund here.
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium etc and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 200+ Dapps, ~22.8M txns and ~364K unique users.