Polygon x Lithium
A collaboration to unlock more founding teams, and move us to further decentralisation
At Lithium, they don’t think decentralsiation is the answer for everything (and definitely not for deciding investment decisions!), but they do think, in the long-term, largely decentralised protocols will be more popular, as they escape the problems blockchain are trying to solve.
But how do you get the benefits of a decentralised protocol such as Ethereum, while maintaining low gas fees, which have rendered Ethereum unusable for so many retail investors.
Enter Polygon.
Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. Polygon seeks to solve the scalability issues through a host of clever technologies.
How The Collaboration Will Work
IDOs
The most obvious benefit to Lithium investors is that they will soon be able to access IDOs on the Polygon network. This is incredibly exciting as it unlocks a tonne of talented founding teams to the Lithium ecosystem.
Lithium holders will stake their $EBSC token on the BSC network, as usual, but on entering the Launchpad, they will be able to see both pools for BSC and Polygon projects. Polygon projects will raise cash through the native $MATIC token.
Grant
Lithium will do a stand-alone post to specify the details of the Polygon grant. At a high level Polygon will be providing Lithium with a cash payment from their Developer Support Program to help them quickly unlock Polygon on their Launchpad, Polygon will also assist with technical support.
Deal Flow
Lithium will assist Polygon with deal-flow, helping them identify exceptional founding teams for investment, launch or both.
Exposure of Users
Research indicates that users are, at least for now, protocol sticky. This means BSC users generally won’t easily migrate to Polygon. This is a shame, as it leaves out a tonne of potential value to investors. This stickiness is one of the reasons they have struggled with the decision about whether to branch onto another chain.
Ultimately, Lithium made the decision because they think this protocol stickiness is just a phase, and it’s inevitable that in the future users will be far more chain agnostic. Lithium also feel, with the level of engagement they have with their community, they can guide their investors to adopt the Polygon protocol, through education and exposure to value via IDOs.
Overall, Lithium team is incredibly excited to work with Polygon and look forward to helping to drive adoption of their protocol to Lithium predominately BSC-focused user base.
