Finance

Speculate on cryptocurrencies in one click? Enzyme Finance launches on Polygon

Enzyme falls for the mermaids of Polygon – Fees are the lifeblood of the DeFi ecosystem. Faced with the multiplicity of DeFi blockchains, more and more protocols are choosing to launch on several chains to offer varied experiences. This is notably the case of Enzyme Finance. The protocol has just announced a launch on Polygon in parallel with its historical version on Ethereum.

Enzyme Finance sets sail on Polygon

Enzyme financing is a protocol belonging to the Ethereum decentralized finance ecosystem. In practice, Enzyme is a protocol aggregator allowing the creation of complex financial products. For example, users can create automated investment strategies. These can range from simple ETFs to the DAO cash fund management.

Initially, Enzyme Finance was deployed and democratized on the Ethereum blockchain. However, faced with the random fees encountered by Ethereum, the protocol has decided to migrate to Polygon to offer a different experience to its users.

Announcement image of the deployment of Enzyme on Polygon.

This migration was finalized on March 22. Thus, Polygon users will now be able to interact natively with the Enzyme protocol. Indeed, Polygon offers a major advantage over Ethereum, namely low transaction fees.

These allow you to save both when creating a financial product on Enzyme and when managing this product.

In total, the version newly deployed on Polygon supports a sixty different tokens. This one is also connected with various DeFi protocols, such as Aave, Curve, Paraswap or Uniswap to recite nobody else but them.

>>Before going to Enzyme Finance, you will have to collect some MATICs by registering on FTX! (affiliate link)<

Polygon: the eldorado of second layers?

Nowadays, Polygon just stay the most popular Ethereum scalability solution in the ecosystem. Indeed, it offers an environment similar to that of Ethereum, without having to suffer the volatility of transaction fees.

In addition, the Polygon teams are multiplying developments to offer ever faster and less expensive solutions.

Thus, Polygon does not intend to be satisfied with the Polygon network as we know it and is actively working on the development of solutions based on rollups.

Alternately, Polygon announced Polygon Miden and Polygon Zerotwo ssecond layer solutions based on zk-Rollups. Its objective is to explore the different existing scalability technologies to offer several networks that meet various application needs.

To finance these titanic projects, Polygon has developed a fund of 1 billion dollars exclusively focused on the research and development of rollups.

However, the Polygon teams will have to work hard to avoid being overtaken by the growing competition. Indeed, in the space of a few months, second layer solutions have continued to multiply on Ethereum. Among them, we find the Metis networkwhich has experienced significant growth over the past month.

Whether you are interested in Layer 2 Metis or the Polygon side-chain, you will have to buy cryptocurrencies to use them! To do this, open an account on FTXthen withdraw the cryptocurrency concerned on the network of your choice (affiliate link)!

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