Flurry Finance has successfully launched on Polygon, bringing the automatic yield farming feature of rhoTokens to all Polygon users. In celebration of the launch, Flurry Finance is launching a special reward campaign exclusively for Polygon users from launch to 1st February 2022.
Flurry Finance Brings DeFi to the Masses
Flurry Finance is on a mission to simplify DeFi for everyone. Polygon has one of the largest DeFi ecosystems in the blockchain industry and for this reason, it was a natural path of expansion for the project.
After a successful launch of the $FLURRY on Ethereum and on Binance Smart Chain, the Flurry Protocol launches on Polygon due to the network’s usability and scalability. The Polygon Network is a full-stack scaling solution for the main Ethereum network that provides higher throughput and lower gas fees.
On December 1st, Flurry Finance has launched its stablecoin yield farming solution rhoToken and its governance token $FLURRY on Polygon. The rhoToken uses a 1-to-1 peg with an underlying stablecoin to automate yield farming. Users mint rhoTokens using USDT or USDC as a base, and then the Flurry Protocol automatically takes these deposits and invests them using different strategies.
The generated yield is immediately deposited to the wallet holding the rhoTokens. The integration with Polygon will allow Flurry to deploy even more yield aggregation strategies using Aave, Sushiswap and more to come. Users will be able to gain yield using their stablecoin automatically while saving on gas fees.
Second, the governance token of the platform $FLURRY will also be available on Polygon. This is important because it’ll allow Polygon users the ability to decide the direction of the Flurry Protocol in the future.
Flurry Finance aims to make DeFi easy and accessible to anyone. Now with the launch on Polygon the project will have access to even more DeFi platforms and incorporate more strategies to kickstart the next stage – cross-chain interoperability of rhoToknes.
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 3000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.
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About Flurry Finance
FLURRY is a DeFi protocol offering yield aggregation with rhoTokens, which is pegged 1:1 to its underlying stablecoin. It automatically farms for yields without locking up funds or interest earned by diversifying DeFi product risk, resulting in lower gas fees.
They automate the tedious task of locking/unlocking and switching in and out of DeFi products on different chains to generate yield. Current yield aggregators are limited to Ethereum based products or work on a single chain, whereas FLURRY aims to work cross-chain to look for the best yield after cost on different chains.
Source : cryptodaily.io