FLURRY Finance partners with Polygon for optimized cross-chain yield farming
FLURRY Finance, a platform that facilitates deposits from Ethereum, pools assets, and bridges them to the Matic network in batches. today announced it has formed a partnership with Polygon to scale up convenient cross-chain yield farming.
Aligning with the Matic network’s modest fee structure, the tie-up between FLURRY Finance and Polygon reflects FLURRY’s goal to elevate its stable rhoTokens as a medium of exchange in daily transactions and keep network fees low. This
Owners of rhoTokens will be able to trade, spend, and earn interest on the Matic network, while rhoToken’s underlying stablecoin will pay out interest on other chains. FLURRY Finance actively monitors cross-chain conditions to generate the best-uninterrupted yield at minimal risk to rhoToken holders.
“More DeFi products are migrating to Matic. We see that the yield is becoming attractive and switching between protocols on Matic is cheaper than on Ethereum due to the much lower gas fees. All of these are reasons for us to build on Polygon,” said Mike Ting, CEO of Flurry Finance.
Featuring a simple and intuitive user interface, FLURRY brings added value to Polygon by channeling inflow from Ethereum to the Matic network.
“We are glad to work with Flurry Finance in bringing DeFi to everyone. As we’ve always aimed for creating a borderless world, it would need a simple and convenient product in achieving so. Flurry would be a medium where everyone would be able to enjoy the fast transaction time with lower fees we bring,” stated Asif Khan, DeFi Growth Specialist at Polygon.
FLURRY Finance’s integration with Polygon follows the formation of a partnership formed with DuckDAO, a community-backed digital asset incubator that works with promising early-stage crypto startups.
In July, FLURRY Finance closed a $3 million funding round with investors including AU21 Capital, GenBlock Capital, CoinUnited.io, One Block, Soul Capital, and Dutch Crypto Investors.
After the successful launch of the FLURRY testnet in July, FLURRY Finance will soon commence an IDO on the Cardano-based launchpad, CardStarter, for members of the crypto community who want to own a stake of the governance token $FLURRY. The token will give holders the privilege of voting to add or remove new yield farming strategies and assign risk factors to active schemes.
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Text source: CryptoNinjas
