Polygon (MATIC) Expands to DeFi with Harvest Protocol Integration
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.
1/2 @harvest_finance is now live on Polygon!
— Polygon (@0xPolygon) July 27, 2021
? With Polygon integration, Harvest, a yield farming aggregator introduces a new set of strategies to minimize fees and maximize yields.
?Learn more: https://t.co/TxgjLSgPyW pic.twitter.com/XtAgfygzeZ
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.
Vladislav SopovEarlier this month, Polygon (MATIC) partnered with cutting-edge DeFi protocol Balancer (BAL) to launch a series of unmatched liquidity mining initiatives.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Related articles
Alex Dovbnya
Godfrey Benjamin
Dan Burgin