Polygon Vaults Launch on Autofarm
- Polygon is the third chain to integrate with Autofarm, following BSC and HECO.
- A total of 21 new Polygon vaults have been added to Autofarm.
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According to an Autofarm blog post from 23 May, the integration with Polygon has now been completed and Autofarm is ready to enable greater cross-chain capabilities between the two ecosystems. Autofarm consists of three main products—a cross-chain yield optimizer, a DEX aggregator, and an intelligent portfolio manager. Before the integration with Polygon, over 87 vaults were live on Binance Smart Chain (BSC) and Huobi ECO Chain (HECO).
The integration with Polygon has brought 21 new vaults to the Autofarm ecosystem. These include vaults from QuickSwap, ComethSwap, and SushiSwap.
The fee structure in Polygon vaults will be similar to that in BSC vaults, with the only difference being a 0.2% controller fee. In addition to that, users that have staked AUTO tokens in the BSC single AUTO vault will play a governing role in deciding between the percentage of tokens allocated to burns and revenue sharing for Polygon vaults.
“Autofarm’s partnership and integration with Polygon mark just one of the many goals we have moving forward in 2021 — significantly improving our cross-chain capabilities,” Autofarm said in the announcement.
In the coming weeks, Autofarm’s DEX aggregator AutoSwap will be aggregating liquidity from DEXs powered by Polygon.
- Binance has officially launched its $1 billion industry recovery fund, and said it is ready to set aside another $1 billion in the near future “if the need arises”.
- Jump Crypto, Polygon Ventures, Aptos Labs, Animoca Brands, GSR, Kronos, and Brooker Group have all joined the fund with a combined contribution of $50 million.
Binance CEO Changpeng Zhao. CoinDesk
- MetaMask Bridges was designed to aggregate multiple blockchain bridges in one place, making it easier and more secure for users to transfer their assets from one network to another.
- The new feature currently supports the Ethereum, Avalanche, BNB Chain, and Polygon blockchains, as well as the Connext, Hop, Celer cBridge, and Polygon Bridge.
- The Monetary Authority of Singapore successfully completed a cross-currency transaction using DeFi technology as part of its Project Guardian initiative.
- Singapore’s DBS Bank, Japan’s SBI Digital, and J.P. Morgan all participated in the trials that were conducted on the Polygon blockchain.