Polygon Partners With Aave For Liquidity Mining Program

#DeFiForAll, a DeFi accessible to EVERYONE regardless of portfolio size.

This is what Aave and Polygon aims to achieve with their new collaboration.

Ethereum scaling solution Polygon(formerly Matic) has partnered with liquidity protocol Aave for a liquidity mining program.

A total 1% of the total supply Matic tokens estimated at $40 Million is allocated for the mining program to users that deposits and borrow in Aave’s Polygon market.

The mining program supports AAVE, DAI, ETH, MATIC, USDC, USDT, and WBTC markets and split into 2 phases,each phase constitutes 0.5 %of allocated supply.

Additional rewards will also come from Polygon-built decentralized exchanges Quickswap and ComethSwap.

Speaking on the partnership, Aave Founder and CEO, Stani Kulechov, noted,

“If DeFi is great but only limited to portfolios of five figures and up, DeFi will be falling short of its mission to finance for everyone. Polygon enables this and makes DeFi accessible to a wider audience globally.”

This collaboration aims to give much needed scalability on the Ethereum blockchain so DeFi can be accessible.

Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development that uses Polygon SDK for connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium etc and Standalone Chains like Matic POS, designed for flexibility and independence

Aave is an open-source and non-custodial lending and earning protocol with more than $6 Billion in total value locked.

#SmartCrypto