LYD Gate #2 Support Polygon to Avalanche

Lydia Finance is thrilled to announce that their bridge “Lydia Gate” now supports the Polygon chain

Since its inception, their Lydia Gate has allowed many BSC users to get started with DeFi on the Avalanche Network and invest in LYD, AVAX, and tokens from other Avalanche platforms as well. They believe that adding Polygon support will bring even more new users to the Avalanche ecosystem and help it grow.

Read the first announcement of LYD Gate here if you haven’t yet.

3 easy steps to get started with Avalanche C-Chain

✅ Open https://gate.lydia.finance/
✅ Connect your MetaMask wallet.
✅ Set and send it

How does it work with Polygon?

Simple:
1- Alice sends $Matic to their wallet on Polygon
2- they instantly convert the $Matic to $AVAX at the current price
3- They buy $LYD from our exchange with 90% of the $AVAX and send it to Alice’s C-Chain wallet address along with the remaining 10% in AVAX.

Limits for Polygon

They accept a minimum of 50 Matic and a maximum of 2000 Matic for a single transaction. Amounts out of this range will be sent back to the user deducting the tx fees.

Fee reduction

Now it’s cheaper to get started DeFi on Avalanche. With this update, they are decreasing the Lydia Gate fee from 8% to 6%. They will keep watching how it goes and adjust rates and limits.

What is Lydia Gate?

Lydia Gate is a hybrid centralized software we developed running on their servers that allow users to buy LYD from other networks.

Now it supports BSC and Polygon chains. Technically all EVM compatible chains can be integrated later.

They believe Lydia Gate will make it simple to invest in Lydia Finance and help the adoption of DeFi on Avalanche.

Lydia gate also provides the infrastructure for a possible FIAT integration in the future.

SOURCE

https://medium.com/@lydiafinance/lyd-gate-2-polygon-to-avalanche-1012d50dd31b