We are happy to announce that QuickSwap and Starter are launching their next IDO-Relay Chain on Polygon!
After a hugely successful first Polygon IDO in Yamp Finance in what is a challenging market, less than a week later, QuickSwap and Starter are delighted to be able to bring to you the next — Relay Chain.
What is Relay Chain
Relay Chain is the Bridge of DeFi — it aims to become the ecosystem of ecosystems, the heart of cross-chain traffic — with a focus on utility, security, speed, and trust.
The Relay Chain Ecosystem enables four primary opportunities:
Incentivize existing chains — making gas tokens easier to procure and have exposure to.
Protection against CEX risks and oversight.
Liquidity incentives (provided by the parent chain and partners) across popular ecosystem tokens.
Relay Chain is from the team behind the hugely successful Zero Exchange, one of the first multi-chain AMMs, and a Mcap of over $100M Mcap at the peak of the market in April. The team learned a lot from their time with ZERO, and have used this experience to create a multichain bridge, or relay, with some key unique selling points:
Farewell stuck transactions — As many of you will know from using cross-chain bridges before, sometimes your transactions can get stuck. Resolving this can take hours or days, and by then the opportunity you were attempting to grasp may have passed. Relay boasts one of the most complex and resilient bridges around. They rebuilt their relayers from the ground up with resilience in mind, ensuring that 99.9% of transactions go through without needing any manual intervention.
Free gas tokens for initial bridging — Perhaps the most annoying aspect of using all of the current bridging options is that you can send your tokens to your wallet on the new chain, but can’t do anything with them when they arrive unless you buy and send yourself some of that blockchain’s gas tokens.
An example of this might be using Polygon for the first time and sending your $START from BSC to Polygon. You may be thinking, I’ll just sell some of that $START on QuickSwap for some MATIC so I have some native gas tokens for Polygon, but you can’t. You need MATIC to do that, and so begins the inconvenient process of using a CEX or another chain to get the MATIC tokens and send them to your wallet so you can pay gas fees.
Relay will airdrop you a little of each blockchain’s gas token when you do your first swap, so you can approve your first transaction and perform a DEX swap or two.
Speed — Many of the current bridges are painfully slow, which can make arbitrage almost impossible. The average bridge transaction on Relay Chain completes in under 2 minutes. This bridge is built for arbitragers.
Five blockchains from the $START — Not one, but 5 different ecosystems will be connected to the Relay from the start: Ethereum, Avalanche, Binance Smart Chain, Polygon, and Relay. With Solana, HECO, Cosmos, Fantom, and Near (Aurora) in the works.
The Business Case for Relay Chain
All bridges will take a small fee at some point during the transaction, and Relay Chain will be no different.
However, what Relay Chain does with those fees is rather unique, and something they call the gas token index:
The bridge generates fees
Those fees reward $RELAY liquidity providers
Those fees go to yield farms to generate positive protocol revenue
Those fees go to token buybacks and burns, thus making the $RELAY token deflationary
High-emission liquidity rewards are a notion of the past — replacing the unsustainable inflationary concept with one that rewards in HT, AVAX, MATIC, ETH, and BNB and is constantly being generated through bridge volume
Generating volume on the Relay will be key to the increased value of the $RELAY token, the ecosystem, and rewards for the community. Therefore partnerships to generate volume are key.
So far, Relay has secured a partnership with QuickSwap.Exchange, the largest AMM & DEX on Polygon, Bridge Mutual, Bitcoin.com, Zokyo, and ChartFX, with more to follow.
As $RELAY is launching by exchanging the $ZERO token for $RELAY. The exact $ price of $RELAY will be dependent on the price of $ZERO on the day.
Those who purchase through Starter will get an exclusive 15% discount on that listing price.
Date: 2nd August, 2021 @ 1400 UTC
Guaranteed Allocation: Yes, headstart 5 minutes.
Direct Link: https://starter.xyz/#/pool/3 (token and listing prices will be updated closer to the IDO to adjust for changes in QUICK price)
IDO price: $RELAY will be exclusively available at a 15% discount of the price of $ZERO
Listing price: Dependent on the price of $ZERO at the time
Liquidity allocation: 100%
Liquidity locked: 90 days
How to take part
To take part in a Starter IDO on Polygon just follow the simple steps below:
For more information, check out: https://www.youtube.com/watch?v=38wooSCQci0
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 Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 450+ Dapps, ~350M txns and ~13.5M+ 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.
About Relay Chain
Bridging as a Service (BaaS) Provider for DeFi Ecosystems: $RELAY $ETH $AVAX $MATIC $BSC and soon more.
Source : cryptodaily.io