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Polygon (MATIC) Expands to DeFi with Harvest Protocol Integration

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Wed, 07/28/2021 - 16:32
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Vladislav Sopov
Decentralized finance veteran Harvest will leverage Polygon's (MATIC) smart contracts to advance yield strategies aggregation
Polygon (MATIC) Expands to DeFi with Harvest Protocol Integration
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Harvest Finance, one of the pioneering DeFi yield aggregation instruments, is going to have its instruments deployed to the Polygon (MATIC) smart contracts platform.

Harvest Finance DeFi goes live on Polygon (MATIC)

According to a press release shared by Harvest Finance, its "yield farming" instruments have been deployed to Polygon (MATIC) smart contracts.

Due to the high performance and negligible fees of the Polygon (MATIC) platform, this integration will make "yield farming" with Harvest Finance more resource-efficient.

Initially, Harvest Finance harnessed the smart contracts of Ethereum (ETH). But with increased gas fees, some "yield farming" designs became unprofitable.

In particular, high fees were dangerous for DeFi "farmers" with no previous expertise in sophisticated crypto protocols. That is why the partnership with Polygon (MATIC) lowers the DeFi barrier to entry for newcomers.

New strategies to be unveiled by Harvest Finance

Besides empowering existing strategies with more advanced technical tools, Harvest Finance is going to release and deploy entirely new "yield farming" designs.

New farming tools—first of all, vaults for different tokens—will be released with significantly lower fees compared to those of Ethereum (ETH). The "yield farming" experience will be frictionless and profitable for Harvest finance clients.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)