🟪 PolyPulse: Earning opportunity with Liquid Staking
Also worried about the bear market? Build with Polygon!
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 third week of May 2022.
During the past week, there was an explosive growth of 12% in the total transactions that happened during the third week of May 2022. The Polygon PoS chain recorded the highest number of transactions on 9th May 2022 (4.16 Million) since Jan 2021. The crypto turmoil and people buying/selling their stakes based on their market assumptions are the major reasons behind this.
Quickswap (79k), KyberSwap (14k) and Uniswap (12k) had the highest engagement with regard to number of users.
Daily gas fee saved by using the Polygon network was $58 Million during the last week.
With the tumbling market and burnt hands, Polygon is ensuring to provide all the help it can. There are three initiatives that went live last week to enable builders to build without worrying about the market sentiments.
Polygon has launched Polygon Fellowship: Class of 2022, an 8-Week developer focussed fellowship programme to help bridge the talent and provide successful applicants with education, funding, mentorship, and support with a wide range of aspects related to the rapidly evolving Web3 industry.
To apply to the program you can click here.Polygon launched a base camp accelerator: Polygon along with Outlier Ventures has launched a base camp accelerator, where one gets access to in-house experts that have helped launch 100+ startups and a billion dollar networks. Whether it’s fundraising, business model, scaling (operations and tech) or one of the other million challenges one can face as a Web 3 start up, you can get all the expert help here.
Polygon launched a DeFi focussed accelerator program: Polygon along with Orbs launched a DeFi focussed accelerator program under which the selected protocols will receive various benefits, including funding opportunities, mentorship, and market exposure. Additionally, DeFi.org will feature and provide a liquidity injection for promising projects and other selected venues on launch. You can get more information here.
Also, Read:
Educational thread on the main differences between DAI and UST
DeFi research guide: Conducting Due Diligence on DeFi Protocols
Launch of Bitcoin FLIs on Polygon
The Polygon Ecosystem DAO’s initiative “Polygon Village” has completed its first month and is onto its second month Journey. The initiative has been very well received by the community due to its astounding efforts in being a key enabler to the Web3 journey of the participating individuals and dApps.
In the second month, the DAO has received more than 90 applications which are being reviewed for grants and various partner vouchers like audit, liquidity provision etc. The DAO also invited Balancer to participate in the “Village Talks” about tokenomics.
This week the DAO also joined hands with another protocol Idle DAO to bring a new grant line for the builders. The eligibility criteria being:
- At least a production-ready product;
- The mainnet release (or Idle integration) is planned for no later than 2 months;
- Has not already received a grant from Polygon Ecosystem DAO;
- The project does not violate any laws or regulations.
To read more about the program, you can click here.
Since Polygon has been focussing on Liquid Staking the whole month, we bring to you a bunch of strategies to put your MATIC to work and earn ~40% APY through various strategies.
Furthermore, Liquid Staking enables you to earn more with your MATIC tokens. It provides a Liquid version of your MATIC token which can be used to generate returns through various DeFi opportunities. It also ensures that the PoS chain’s security remains intact. Seems exciting?
Polygon launches Polygon Nightfall to enable enterprises to conduct their transactions on a public blockchain in a private manner (Read more in our upcoming newsletter).
Polygon launches a KPI-based Uniswap Liquidity Mining Program for Active Managers.
Teller finance diversifies to Travel insurance.
Earn upto 16% on your MATIC via WireX.
LIDO holds more than 85% of the Liquid Staked MATIC.
Polygon is helping the projects that got harmed during the UST collapse
The past week involved interactions with various protocols and projects being built on Terra and how the UST collapsed had a damaging effect on them. It has been very intense. So many founders who want to see their users made whole without even caring about the projects they had built or their valuations are heartbreaking. Polygon is trying to help these teams in every way possible through all the efforts that can be put in, be it funding, helping port over or just being there to ensure no one goes unheard of. Ryan Wyatt, CEO of Polygon Studios tweeted about putting capital and resources against these migrations to welcome the developers and their respective communities to the Polygon platform.
If you are a project that has been impacted via the UST collapse, feel free to be in touch. - Aishwary Gupta (Strategy/Marketing Lead at Polygon DeFi & Community Lead at DeFi Pulse).
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