NORD Savings on Polygon
NORD & Polygon collaborates & launches Nord Savings on the Polygon, so users from the Polygon ecosystem will get access to features of Nord Savings.
Polygon offers a multichain experience with incredibly fast transaction throughputs and cheaper fees. Assets staked on Polygon enjoy ironclad security as Polygon is a Layer 2 solution of Ethereum. Top projects ranging from DeFi dapps, NFTs and Gaming platform to Oracles like Chainlink, Band, as well as Dev tooling platforms are already leveraging Polygon’s aggressive scaling solution.
Salient Features of new tier based NORD savings on Polygon:
- Stable coin APY from lending platforms on Polygon
- Bonus APY boost of USDT supplied in NORD as per the tier
- Bonus APY boost of NORD staked in NORD
- ~2.5X APY boost for the top tier i.e Titanium + 50% entry load fee deductions.
- NORD Savings users get fees redistributed for long term holding.
- NORD Single asset stakers on Polygon will get fees redistribution.
- Gas less fee transactions integration on Polygon.
- Instant withdrawals of stable coins
- One week unbounding period for the staked NORD token.
Polygon Network has garnered and continues to facilitate more than 6 million transactions per day, rivalling most L1 networks. We are indeed excited to launch our NORD beta liquidity mining program on June 1st 2021 on the hottest L2 platform in the blockchain sphere.
The NORD Saving Program on Polygon will feature an APY boost for NORD savings, an attractive fee structure and no lock-in stablecoin staking.
🔸Stable coins Staking APY
As a Nord user, stake your USDT/USDC/DAI stablecoins and earn APY on your asset based on the calculated interest for participants. As there is no lock-in period for stablecoins asset staking, you can unstake your asset anytime along with stable coin interest accrued over time from the most secured and liquid lending platforms like Aave and Compound.
🔸Bonus APY boost on staked Stable coins on NORD
Based on your staked amount of NORD, Savings users get a APY boost of upto 12.5% in the form of NORD as per the tier user falls in.
🔸Bonus APY boost on staked NORD on NORD
NORD holders enjoy an additional layer of APY boost upto 12.5% for staking their NORD. Depending on your holdings, stake NORD on Polygon to get the below listed APY boost.
🔸Nord Savings Fee Structure on Polygon
Protocol Fee (entry load): Each user is charged 0.5% on the capital for the platform revenue
The protocol will charge every NORD saver a 1% fee on exit to be shared pro-rata as shown below:
- Treasury: 0.3%
- Redistribution to NORD long term staking holders: 0.3% ( for single asset staking on polygon coming soon)
- Redistribution to stablecoin holders: 0.4%
- Withdrawal Fee: 0%
- Performance Fee : 0%
Recently Nord Finance also announced the successful completion of Nord Savings V2 audit by leading blockchain and security firm, Zokyo. The blockchain audit firm facilitated a thorough smart contract audit enabling Nord Finance to achieve a significant milestone.
What is Nord Finance?
Nord Finance, a blockchain agnostic platform, is an advanced decentralized financial ecosystem that focuses on simplifying decentralized finance products for users by highlighting traditional finance’s key attributes. Deployed on the Ethereum Network, it integrates multi-chain interoperability, thus proposing a plethora of financial primitives, which constitute savings, advisory, loans against assets, investment/funds management, and swaps.
What is Polygon?
Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. Aggregating scalable solutions on Ethereum supporting a multi-chain Ethereum ecosystem.
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