Poly Pulse #4: Earn over 175% with one step AAVE-MAI-Balancer Multi Strategy
Also, read about the DApp care package exclusively built for the applications being deployed on Polygon.
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 past week, along with a farming opportunity.
Whether you are a newbie who has just entered the DeFi ecosystem or someone who wants to keep yourself updated, this newsletter is the best place to stay ahead of everyone.
The low-cost ecosystem of Polygon (with avg. fee of $0.028 vs. Ethereum’s avg. $21 per transaction) has opened new doors to a whole different scope for user behavior. With the average address signing more than ten average transactions/ day, #DeFiforAll is slowly becoming a reality.
With over 3,000 dApps deployed on Polygon, 5 of the dApps have over 100k active users over the last year, with QuickSwap leading the way, with nearly 1 mm unique addresses and 4 of these apps related to DeFi.
Polygon ecosystem has over 3000 applications built on it, and one of the primary reasons is the support it gives to various applications right from the start. Apart from providing an early-stage grant to kick off the process, Polygon also supports in the following way:
Infrastructure Support: Polygon has partnered with more tooling projects to ensure that the proper infrastructure is available from the start. One can use decentralized cloud storage on Akash Network, RPC providers, and special developer packages on Tenderly, Gelato, Certora, and many others.
Access to Poly Builders: Tap into an internal group of Polygon teams and developers to discover synergies and assist in cross-collaboration with other teams building on Polygon.
Technical Assistance: Polygon has onboarded in-house developers for advice, trouble-shooting, and best practices which helps projects get their queries resolved very quickly.
Analytics Support. Make the most of Dune Analytics dashboards to understand users better. Dune Analytics has extended its support by launching a bounty program for all Polygon Projects.
VC’s and Liquidity Providers: With Polygon, one can leverage one-of-a-kind venture capital support and incubation, Polygon’s investor network, liquidity providers, and market-maker partners.
Marketing Support: Marketing is one of the costliest and most challenging things for developers. To showcase the projects being built on Polygon, it leverages its visibility and reaches in all regions with Polygon’s official media partners channels, AMAs, Twitter Spaces, and more. This helps projects get their users quickly and at zero cost.
Security Audits: With so many projects building in the Web3 space, getting the smart contract security audits done reasonably is challenging. Polygon enables a discount on security audits from top partner firms in the industry and ensures their timely completion. Thus aligning with its commitment to user security without breaking the bank while paying for security by the projects.
These benefits enable projects to focus on their products rather than chasing various vendors for all the requirements. This allows a unique environment for the projects to build and grow in an incubated ecosystem.
The previous week, Polygon Ecosystem DAO boosted its grant process to approve eight grants to various projects which include:
Ibiza Token: An NFT Marketplace connecting local content creators and businesses to a global audience.
DeFiner: A permission-less and configurable decentralised lending protocol with 100% privacy protection.
Filda: A lending and a borrowing platform to be built on Polygon.
EtherOrcs: A 100% On-Chain NFT Game.
Nexity Network: A Circular Business Ecosystem - built to scale supply chains with incorporated IoT, AI, VR, and backed by blockchain.
Seed Venture: A protocol to match liquidity between investors and startups. The bridge between decentralised finance and real economy.
CoralApp: a new generation Fitness and Wellness App.
The grants are milestone-based and will be released based on the performance of the projects. If you plan to build on Polygon or currently are on Polygon, you can also apply for a grant to the DAO via their application form.
AAVE-MAI-Balancer Multi Strategy: AAVE-MAI-Balancer is an innovative Multi-strategy that automatically interconnects three protocols yield farming in each one of them, that’s right, earning rewards in AAVE, QiDao and Balancer.
This solution provides the user with efficient Yield farming by simplifying what would be a slightly more complex process that could require a lot of patience to do a lot of transactions to place assets on each of the platforms and attention to maintenance and management of each of the positions.
This Multi-Strategy provides the user with multiple advantages:
It maximizes earnings with single asset yield farming.
There is no risk of impermanent loss.
Low liquidation risk, and
Single transaction to execute a multi-platform and complex strategy.
All you have to do is go to the Tetu Platform and provide AAVE to the pool.:
At the backend, this strategy includes the following complex pathway:
Aave Tokens are supplied to AAVE, and amTokens are received.
amAAVE is deposited on QiDao to create camAAVE
Create a camAAVE vault in QiDao and supply camAAVE as collateral.
Borrow MAI by about 50% of the collateral value.
Deposit the borrowed MAI in the BAL stability pool.
Using the multi-strategy will be simple; all the user will have to do is deposit the single asset token, i.e., AAVE, and the strategy will do everything else automatically.
Tetu @tetu_ioToday we're presenting Tetu's new and innovative multi strategy based on @AaveAave, @QiDaoProtocol and @BalancerLabs ✨ The strategy automatically interconnects three protocols yield farming in each one of them 🤯 This means you're earning rewards in AAVE, QiDao and Balancer🤑 https://t.co/4bZezigsWk
Have $Matic and want to put it to work ? Here are some of the ways:
Axion @axion_networkAxion Completes its Move to @0xPolygon Readies NFT Stakes and More Read more here: https://t.co/ACrDQETWeI #polygon #BTC #ETH #cryptocurrencies #crypto #NFT https://t.co/6G9QZn4263
Enjoy incentivised trading on Gains Network:
With Uniswap’s V3 deployment on Polygon in under a month, Polygon has the highest liquidity utilization in most of the pairs deployed on it compared to Optimism and Ethereum itself, making Polygon yet again a capital-efficient protocol on Uniswap V3.
With new and better integrations developing every day, this newsletter will help you update yourself in the context of farming opportunities, developer opportunities, and how the ecosystem is evolving. Stay tuned, subscribe, and we will have many updates coming your way!
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