More and more Ethereum projects are adopting Layer 2 technology. The need for cheaper and faster transactions has brought with it the discovery of new networks. Especially one of these networks, Polygon , which has been mentioned frequently in recent times , has become the MATIC network, formerly.
In this article, we will approach decentralized Polygon applications from 3 different points. Like other networks, the Polygon network is home to many decentralized applications and creates significant potential earning opportunities.
Decentralized Exchanges (DEXs)
As with many different networks, there are decentralized exchanges in the Polygon network. Moreover, using these platforms is very cheap and fast. Most of the stock in the Polygon network merkeziyetsiz basically Uniswap platform Fork ‘s as emerges. For example, Quickswap and ComethSwap are decentralized exchanges serving on the Polygon network. Quickswap adopts 0.25% as transaction fee and distributes these fees to liquidity providers, while ComethSwap adopts a higher rate of 0.5% as transaction fee and distributes 90% of these fees to liquidity providers . The remaining 10% is sent to the players of the blockchain game Cometh.
Both platforms feature liquidity mining and liquidity providers can stake the LP Tokens they obtain to own QUICK or MUST Tokens, which are the Native Tokens of these applications. However, it should not be forgotten that the possibility of impermanent loss must be taken into account in this process .
Apart from the decentralized exchanges that only serve on the Polygon network, decentralized applications that first served on the Ethereum network, but later started to serve in many different networks, also started to use the Polygon network. The most well-known of these are SushiSwap and Curve applications.
As a result of its joint cooperation with Polygon, SushiSwap offers SUSHI and MATIC Token rewards to those who provide liquidity for the first 6 major binaries supported on its exchange. These Tokens are earned after the next staking of Sushi LP Tokens obtained with the return of providing liquidity. Similarly, the Curve platform offers MATIC Token rewards for stablecoin returns.
One of the largest Lending Platforms on the Ethereum network, Aave also operates on the Polygon network with over $7 billion TVL . This platform gives its users the opportunity to deposit their assets as a deposit, and in return gives these users amToken (Aave Matic Market Token). These Tokens are also used to borrow other assets or to summon Aavegotchi (NFT based gaming platform). At the time of this writing, Aave only supports 7 different assets on the Polygon network, but more assets are likely to be supported in the future.
Yield Aggregator Platforms
Just like Yearn Finance , Pancake Bunny (Attention) or Merlin , Polygon also has Yield Aggregator platforms that it offers to its users, listing the best return options and automatically reintroducing the obtained returns into the system. Examples of these platforms are Adamant Finance , Stake Dao, and Beefy Finance .
Although these platforms provide services in the same direction, they differ in terms of operation and transaction fees. For example, Adamant charges a 30% performance fee, but gives the user 500 ADDY for every 1 ETH collected. Beefy Finance, on the other hand, only charges 4.5% transaction fees and between 0.05% and 0.1% withdrawal fees.
Adamant and Beefy focus more on earning returns on LP Tokens, while Stake Dao focuses more on generating returns on individual assets, but currently only uses Aave stablecoin pools on Curve.
Bonus: Eleven Finance