October 25, 2021

DeFi platforms Zapper and Aave announce Polygon sidechain integrations

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As cripplingly high gas fees put scalability in the spotlight and multiple platforms rush to become the preferred home of Ethereum’s decentralized finance (DeFi) ecosystem, layer-two sidechain Polygon may be emerging as a frontrunner after scoring two big wins today. 

Both lending protocol Aave and portfolio management and batched transaction platform Zapper have announced that they will be offering implementations on Polygon. Aave will be launching a trimmed-down a fork of its money market with 7 assets available for borrowing and lending at launch, and Zapper will enable Ethereum-to-Polygon transfers in the first step towards enabling cross-chain “zaps,” their term for multi-transaction, single-click deposits and withdrawals.

Polygon, a recent sidechain rebrand of one-time Ethereum competitor Matic, enables significant increases in throughput as well as fee reductions compared to Ethereum. Multiple NFT projects have previously announced migrations to the chain, and native DeFi platforms are beginning to attract significant sums of total value locked.

In a statement to Cointelegraph, Aave founder Stani Kulechov said that the fee reductions will bring moreTitle: DeFi platforms Zapper and Aave announce Polygon sidechain integrations
Sourced From: cointelegraph.com/news/defi-platforms-zapper-and-aave-announce-polygon-sidechain-integrations
Published Date: Wed, 31 Mar 2021 18:55:59 +0100