Solace is Launching on Polygon on 2/4!
On Friday, February 4th, Solace will go live on the Polygon network! And excited to get one step closer to offering Solace’s simple, intelligent, and efficient protection tools on the Polygon ecosystem.
Users can take advantage of all the great features of Solace without having to worry about the gas fees that come with Ethereum mainnet. Buy coverage for your positions in Ethereum, buy $SOLACE at a discount with their bonding program, and stake your $SOLACE for APYs up to 376%. For extra earnings, lock up your tokens to gain a reward multiplier of up to 2.5x (Fun Fact: current staking APY on Aurora network is 2,740%).
What are my options for purchasing $SOLACE?
At launch, the only option will be to purchase $SOLACE at a discount through bonding program. This will give you a chance to get $SOLACE at a lower rate, and it increases the locked liquidity in the underwriting pool, meaning Solace can offer more protection for more users.
Moving forward, Solace is committed to introduce an LP farm with exchange incentives. More info on that opportunity will be shared in the upcoming weeks.
What is Solace?
Solace is a crypto protection protocol that offers protection against smart contract exploitations. Through our current and upcoming offerings, users can get coverage for their crypto positions with ease.
Solace separates itself from other coverage protocols in a few ways.
It’s Simple: Buying cover for products takes just a few clicks, with only a few inputs. File a claim and get paid in the same transaction. We make every part of the process simple.
It’s Intelligent: Solace manages risk exposure in the most accurate and sophisticated way possible. Our risk management does not rely on human voting or market bias, but quantitative (e.g. statistics, probability, etc.) and qualitative (e.g. audits) measures.
It’s Efficient: Solace’s underwriting pool is funded with protocol-owned capital, and it pools the risk across all of its products, which ultimately translates to affordable premiums.
About Polygon
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 7000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.
SOURCE: https://medium.com/solace-fi/solace-is-launching-on-polygon-on-2-4-438355161896
