Polygon, a blockchain protocol, has announced a Decentralized Finance fund with the primary objective of extending the Decentralized financial sector user base.
In a recent blog post, Polygon made it known that it has launched a hundred and fifty million USD fund. It aims to involve millions of users in Decentralized finance by making it accessible and cost-friendly.
The DeFi sector has been growing steadily among all others in the crypto industry. With this, Polygon created the DeFi-for-All fund. Users who are often intimidated by the high DeFi fees can now participate in this aspect of cryptocurrency to enjoy several benefits. Also, Institutional investors will invest much more in the sector as they have estimated their gains in the long run.
Polygon is a user-friendly platform for Eth scaling and infrastructure advancement. It defines itself as a solution to Layer 2 problems, focusing on minimizing the complications in the scaling blockchains. The market price movement has pushed the market Cap of MATIC above Five billion US dollars.
The fund will contribute significantly in bringing the awareness of casual crypto traders into the Decentralized Finance space. Though there was no specification on using the fund to enlarge the DeFi system, there was a hint on yield farming incentives. The usefulness of the fund is to support the space for close to two or three years.
The Matic network is now known as Polygon and is a platform for Ethereum scaling and infrastructure development.
In recent months, Polygon is experiencing incredible growth in its user activity and adoption after its rebrand from the previous network (MATIC). Top projects in DeFi like Aave, SushiSwap, OpenSea are announcing their integration with the Polygon network to avoid the complexity and Ethereum high fees.
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