bZx LAUNCHING ON POLYGON
As part of bZx’s multi chain growth strategy, Polygon will become the third blockchain that bZx protocol adds to it’s growing list of supported blockchains. Launching bZx’s Fulcrum and Torque margin trading, borrowing, lending and farming protocol on Polygon will open DeFi products to a growing category of investors by providing faster confirmations and reduced transaction fees for DeFi users. Polygon is a layer-2 network designed to bring mass scalability to Ethereum and interoperability between other blockchains. Polygon (formerly Matic) resolves high gas fees and slow confirmation times for users who shop with crypto assets like USDT, USDC or DAI and other ERC20 tokens.
Last month they announced support for Binance Smart Chain, and following on the successful launch on BSC, they are implementing a similar blueprint for their launch on Polygon. As was the case with Binance Smart Chain, bZx will be adding Fulcrum and Torque DeFi margin trading, borrowing and lending, in addition to yield farming with rewards being distributed in the form of PGOV, the new governance token which will be launched on Polygon. While BZRX will remain the primary governance token of the bZx protocol. their new Polygon token, PGOV will be used as the primary governance token for Polygon assets on Torque and Fulcrum. Trading, borrowing, and lending fees generated by users of the platform on Polygon will be distributed in the form of buybacks and burns to PGOV token holders.
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