Polygon users now have access to instant USDC, DAI, and USD transfers. DeversiFi, an L2 DeFi trading platform, is launching a bridge to Polygon to enable instant, free, and frictionless deposits and withdrawals of such assets between the two platforms. This move will also increase liquidity across different blockchains.
The Polygon ecosystem is a catalyst for the broader adoption of blockchain technology, dApps, and decentralized finance. Its network provides very fast transactions at a much cheaper rate than Ethereum can offer. Many DeFi bluechip projects such as Sushiswap, Curve, Aave, Balancer, Kyber have migrated to Polygon or enabled support through other means to use these favorable network circumstances, making it one of the most widely adopted blockchains outside of Ethereum. DeversiFi acknowledges the strong position Polygon is in, and extending this bridge will benefit both projects equally.
Polygon users will be able to instantly transfer USDC, USDt, and DAI to their DeversiFi wallet on the Polygon network. Within minutes, funds will be available in their exchange account on Ethereum. Any future withdrawal back to Polygon will occur even faster. A welcome development that makes DeFi more accessible and convenient to use for both novice and advanced cryptocurrency enthusiasts.
Once on DeversiFi users can send their tokens between accounts, withdraw quickly to Layer 1, participate in fair token launches or swap and trade with the deepest liquidity out of any Layer 2 exchange.
DeversiFi CEO and Co-Founder Will Harborne adds:
“Polygon has on-boarded a whole new wave of users into DeFi on its low-cost commit-chain. With the launch of this new bridge, the Polygon and DeversiFi communities, for the first time, can move seamlessly between the two DeFi ecosystems without ever touching layer 1 Ethereum, all for free.”
“The DeversiFi team was the first one to launch a DEX on the StarkWare ZK-Rollup (Validium) technology and is already launching an AMM and ways to earn yield. We are aligned in that we both have a mission to make DeFi easy for everyone,” said Sandeep Nailwal, Co-Founder of Polygon.
Today, Polygon notes over 125,000 active daily users who will be able to benefit from this seamless bridge to L2 as part of the DeversiFi ecosystem. The Polygon protocol and framework has come a long way since its inception in 2019 and continues to push the boundaries of innovation, integration, and accessibility.
DeversiFi plans to add more support tokens and assets to its bridges to Polygon and Ethereum over the coming months.
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 450+ Dapps, ~350M txns, and ~13.5M+ unique users.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.
Launched in August 2019, DeversiFi is the industry’s first professional-grade, self-custodial trading solution. DeversiFi is the easiest way to access DeFi opportunities on Ethereum: invest, trade, and send tokens without paying gas fees. It brings security, privacy and control to the end user, without sacrificing any of the cornerstones of profitable trading (speed, liquidity, choice). It’s our mission to make DeFi accessible to everyone.
nadja @ yapglobal.com
I have over 10 years of experience writing about cryptocurrency and blockchain technology. I have been published in major publications such as CoinDesk, Bitcoin Magazine, and Blockonomi. I am a regular speaker at crypto events and conferences.I am passionate about helping people understand this complex and rapidly-growing industry. My goal is to make complex concepts easy to understand for the average reader. I believe that blockchain technology will change the world as we know it, and I want to help people navigate this exciting new landscape.