• 29 May, 2024
News

A Look at Polygon’s Recent Partnerships on Defi and Web3 Platforms

Polygon, a global and sustainable web3 infrastructure based on Ethereum, has lately been entering into a number of web3 and DeFi partnerships. The firm has entered into a partnership with Synquote, a decentralized options trading platform that provides liquidity for more than 500 different products.

Sandeep Nailwal, founder and CEO of Polygon, expressed enthusiasm about the expansion of on-chain collateralized options on Synquote in a recent interview.

According to Polygon, Web2 experts in every sector are choosing to build on Polygon as their entrance point into Web3. When compared to perpetuals, options may be a more secure strategy to gain leverage and hedge risk in the event of a tumultuous market.

Users who wish to go long with leverage may pay the option premium and hold until settlement, which takes place automatically. In this scenario, the leverage will be applied to the long position. No liquidations.

Polygon is a full-stack scaling solution that now hosts more than 53,000 decentralized apps (DApps). These DApps include some of the most prominent projects in the Web3 ecosystem, such as Aave, Uniswap, and OpenSea.

In addition, the firm has formed a partnership with the e-commerce platform Uquid in order to include web3 into the purchasing experiences of its customers. Because Polygon is scalable, fast, has minimal costs, and has a large developer environment, the integration will make it possible for Uquid to deliver the finest shopping experience possible.

Developers have convenient access to significant scaling solutions such as L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, stand-alone, and enterprise chains, and data availability thanks to Polygon’s expanding array of products.

Uquid claims it chose Polygon because it is one of the greenest blockchains due to its minimal ecological effect while still being able to make use of Ethereum’s security.

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