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🟪 PolyPulse #26: BUIDLIT is back with more than $500K worth of prizes.

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Poly Pulse 🟪

🟪 PolyPulse #26: BUIDLIT is back with more than $500K worth of prizes.

Also, check the new farming opportunities on Dystopia.

Aishwary Gupta
Jun 21, 2022
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🟪 PolyPulse #26: BUIDLIT is back with more than $500K worth of prizes.

yieldfarmer.substack.com

Howdy family!

Welcome to Poly Pulse - your guide to staying up-to-date on the latest trends in the Polygon DeFi ecosystem.

This newsletter breaks down top stories, developments, updates, and trends from the second week of June 2022.


The decline in the Weekly Active Users finally came to a standstill. As compared to the first week of June 2022, there was a very small decline from 761k users to 756k users. The major reason behind this has been the user base of Terra  joining the Polygon ecosystem after the crash of the LUNA ecosystem.

Image via: Polygon Blog

Quickswap still remains the most engaging DeFi dApp on Polygon with approximately 300k total weekly transactions and 51k unique users. 

Source: Polygon Blog

The Second Edition of BUIDLIT is Live for mavericks, renegades, and pioneers 

The second edition of BUIDLIT, a global Hackathon is live on Polygon with over $500K worth of rewards to be won. This edition features multiple tracks:

  1. Best DeFi: Build the next-gen financial applications for the decentralized economy.

  2. Best NFT:  Combine creativity with engineering to build awesome NFT dApps.

  3. Best Tooling and Infrastructure: Create developer/infrastructure tooling for the Polygon Ecosystem.

  4. Best Gaming: Make some fun and interactive games on Chain.

  5. Best Web3 integration into Web2: Build the Web3 version of your best Web2 product.

  6. Best Public Goods: Create social impact by building public goods.

  7. Everything zk: Build the next generation of Web3 dApps using Zero-Knowledge tools and infrastructure. 

The hackathon began on 15th June, 2022, and some important dates to keep in mind are:

  1. Developer Sessions and Workshops from 16th June 2022 to 26th June 2022.

  2. Hackathon Summit Event on the 22nd June 2022.

  3. Final Submission Dates on the 1st of August 2022.

  4. Winner Announcement on 25th August 2022.

To know more about the hackathon you can click here.

Twitter avatar for @0xPolygon
Polygon - MATIC 💚 @0xPolygon
An important notice for mavericks, renegades, and pioneers. #Polygon presents the 2nd edition of #BUIDLIT One of the BIGGEST Web3 hackathons for developers, entrepreneurs, artists, and students is back! Register now: buidlit.polygon.technology [1/6]
2:20 PM ∙ Jun 15, 2022
521Likes168Retweets

Let’s have some fun: Guess what Polygon will launch next? 😄

Twitter avatar for @_khanhamzah
tokenlessYieldsMaxi 💜 @_khanhamzah
gm $MATIC fam
Image
10:12 AM ∙ Jun 1, 2022
99Likes7Retweets

Dystopia is a recently launched ve(3,3) DeX that supports both stable and volatile token pairs. Building on Solidly’s original idea of ve(3,3), Dystopia improved upon all the flaws and drawbacks of the original iteration to create a DeX that incentivizes trading fees rather than liquidity in order to create the best swapping experience while providing the highest returns to liquidity providers.

Most of the largest pools on Dystopia are stable pools. Let’s take a look at some of them:

  • USDC/DAI: the largets one, with over $2M TVL and almost $150K weekly volume;

  • USD+/USDC: $2M TVL and it had a higher trading volume at $1.2M the last week;

  • FRAX/USDC: $1.9M TVL and $600K in trading volumes past week.

Dystopia is still doing modest volumes compared to stable pairs on Curve for example, but is also offering higher returns that can get you a 2-digits APR in a USDC/DAI pool.

Dystopia stable pools x Curve stable pools

As always, it is a matter of balancing the risk of moving part of your stable portfolio to a new platform versus a higher return, so make sure you do your own research!


  • Swaap.Finance, a new market neutral AMM launches on Polygon.

Twitter avatar for @SwaapFinance
Swaap Labs @SwaapFinance
Swaap Protocol, the first market neutral AMM, launches this week on @0xPolygon 🐳 But what is it all about? Let’s dive in👇
Image
10:09 AM ∙ Jun 14, 2022
246Likes136Retweets
  • Farm for ~145% on the USDC-MATIC pair on Shark Swap: The first DEX on Polygon Supernet.

Twitter avatar for @SharkSwap_xyz
SharkSwap @SharkSwap_xyz
$MATIC <> USDC is yielding 145% Pretty good don't you think @0xPolygon?
Twitter avatar for @Jake_SX9
Jake | SX 🦈 @Jake_SX9
Service announcement 👨‍🌾 100%+ APR's on SharkSwap. https://t.co/PtsIwYDQ5G That is all. @SharkSwap_xyz @0xPolygon @SX_Network https://t.co/D3iYKDfCq9
7:05 PM ∙ Jun 15, 2022
42Likes5Retweets
  • The latest alpha podcast with Kayinne, Founder of Synthetix, is live on “Polygon Alpha Podcast”.

Twitter avatar for @0xPolygonNews
Polygon Ecosystem Updates 💚 @0xPolygonNews
@0xPolygon presents: The "Polygon Alpha Podcast" with @kaiynne, Founder of @synthetix_io 💜 Synthetix V3 💜 #BUIDLtheDIP 💜 Kain's Polygon lament YT: youtu.be/g3yUZyhrqQQ Spotify: tinyurl.com/45rn394y Substack: tinyurl.com/bdd7dd45 Host: @Crypto_Texan
7:28 PM ∙ Jun 15, 2022
175Likes33Retweets
  • The evolving state of Lending Markets on Polygon. The never ending search for passive incomes:

Twitter avatar for @0xPolygon
Polygon - MATIC 💚 @0xPolygon
#Polygon is home to some of the biggest #DeFi protocols out there. Discover 5 noteworthy projects in this flourishing sector, all running on the Polygon blockchain: @AaveAave, @0vixProtocol, @TimeswapLabs, @market_xyz and @useteller. Read more 👇 bit.ly/DeFiForAll-Len…
bit.lyDeFiForAll: The State of Lending on Polygon — Polygon | BlogMatching lenders with borrowers and directing savings to the most effective uses is one of the four core functions of traditional finance, the others being providing a payment system, enabling people to handle their finances across lifetimes and generations, and helping individuals and businesses ma…
5:25 PM ∙ Jun 14, 2022
288Likes78Retweets
  • Read more about some of the biggest Web3 collaborations that Polygon is doing.

Twitter avatar for @CryptoSlate
CryptoSlate @CryptoSlate
Some of the biggest brands in the world are adopting @0xPolygon as their blockchain of choice via @akibablade @NarbTrading #Web3 #Adoption
cryptoslate.comPolygon on way to reaching mass adoption with major partnershipsSome of the biggest brands in the world are adopting Polygon as their blockchain of choice to jump into web3
10:05 PM ∙ Jun 13, 2022
240Likes70Retweets

What’s the take on the current market scenario? 

Let’s pen the words of Sandeep Nainwal, the Co-Founder of Polygon himself. 

“This downturn in the market has more to do with “macro” factors than any fundamental weaknesses in Web3. Long term Web3 remains mega-mega bullish, so newbies keep learning and builders keep building! The bear should be long but if FED does anything which removes any of this uncertainty, there is a lot of dry powder sitting on the sidelines to bring in aggressive bull rallies. Though possibility of that looks low considering sticky inflation & fears of stagflation.

In private markets, A lot of VC funds have raised a LOT of capital, even though they will be careful in selecting their bets, and acceptable valuations would be much lower, but I expect the thesis based VCs to keep deploying. Most of them will also play in liquid markets.

Projects with some Product Market Fit playing in big enough TAMs will still be able to raise funds. If you are unable, then the focus should be to somehow survive; take consulting work, cut costs, just survive. Those playing only token games will be wiped out, for good.

Projects who have a strong treasury with ample runway for 2-3 years and those who would be able to build aggressively through this time will have potential to build generational value.”

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🟪 PolyPulse #26: BUIDLIT is back with more than $500K worth of prizes.

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