Scaling DeFi for users: Nord Finance welcomes Polygon (formerly Matic Network) to drive the growing DeFi adoption
Nord Finance is a blockchain agnostic platform and we are nearing the launch of Nord Savings V2 to launch on other blockchains very soon. While ensuring the highest levels of security Nord Finance has been relentlessly working on scaling mechanisms to its product ecosystem.
We are excited to announce that Nord Finance is uniting forces with the leading Ethereum scaling and infrastructure development platform, Polygon( previously known as Matic Network). The partnership will explore endless possibilities in unlocking the potential of DeFi assets to the broader financial ecosystem. This strategic partnership will usher in increased DeFi adoption, enhancing the overall user experience encouraging mainstream users to participate in the revolutionary financial paradigm.
Nuances of the Nord-Polygon partnership
Under the purview of this partnership, Nord Finance will extend its product ecosystem to Polygon. It will witness the extension of Nord Savings V2 on the Polygon Network. Nord savings will employ Polygon’s POS bridge for the efficient management of stablecoin assets. The working bridge will be instrumental in depositing and transferring stablecoins and performing yield farming strategies.The partnership commitment will enable Nord Finance to infuse adequate liquidity into Polygon’s ecosystem.
NORD — Polygon Brief Integration plan
- Mapping $NORD to Polygon network and enabling users to freely hold and trade on Polygon network with lowest possible fees.
- Deploying Nord Savings V2 onto Polygon and enabling liquidity mining with intensevised $NORD rewards pools program.
- Enabling users to deposit their stable assets via an existing POS bridge via NORD Savings web app.
- Integrating and onboarding stable coins directly on Polygon Network ( without POS bridge ) when they are available .
- Integrating NORD Savings V2 with yield farming strategies and rewarding users with best stable coin APYs from different lending platforms of Polygon network.
Polygon is a full-fledged infrastructure development platform transforming Ethereum Network into a multi-chain system as a well structured and easy to use platform. Previously known as Matic Network, it was focusing on promoting blockchain scalability solutions on the Ethereum network.
Delving into the realms of this partnership, it will simplify DeFi investments for users due to the extensive support on the technical front by synergizing with Polygon. Apart from the above aspects, the integration of Nord Finance with Polygon will allow the execution of cost-effective trades involving negligible gas fees. With the current network congestion and surging gas fees on the Ethereum Network, this will impart immense value to Nord Finance. Supporting a new wave of scalability to fuel adoption, this partnership will enable speedy transactions, thus ameliorating user experience.
The Future of DeFi Investments
Elaborating on the dynamics of this partnership, Amarnath Reddy, CEO and Co-founder at Nord Finance said,
The decentralized investments have been quite challenging since the inception of decentralized finance. The tech-savvy investors have always gained an upper edge in employing smart techniques to maximize their investment returns. Whereas, the novice users witnessed a limited reach due to technological hurdles, complexing the entire investment process.
By collaborating with Polygon, Nord Finance aims to address the prevailing issues relating to DeFi investments with high gas fees and scalability on the Ethereum Network. This is an initial step towards bringing decentralized investments to mainstream adoption.
Sandeep Nailwal, COO & Co-founder at Matic Network said, ‘Nord Finance will help unlock the potential of DeFi assets to the broader financial ecosystem, and we’re excited to support Nord with our network and Polygon-grade txns.’
About Polygon (Formerly Matic)
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium etc and Standalone Chains like Matic POS, designed for flexibility and independence. Polygon’s Layer 2 Chains have seen widespread adoption with 90+ Dapps, ~7M txns and ~200K unique users.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.
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About Nord Finance
Nord Finance, a blockchain agnostic platform, is an advanced decentralized financial ecosystem that focuses on simplifying decentralized finance products for users by highlighting traditional finance’s key attributes. Deployed on the Ethereum Network, it integrates multi-chain interoperability, thus proposing a plethora of financial primitives, which constitute savings, advisory, loans against assets, investment/funds management, and swaps.
At Nord Finance, we are building a one-stop advanced decentralized financial ecosystem to serve the rising needs targeting novice users and professionals to meet their financial goals.
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