We’re excited to announce that Standard Protocol — a Collateralized Rebasable Stablecoins (CRS) protocol is bringing its ERC20 token to Polygon to enable near-instant and low-cost transactions for its users.
The Standard Protocol provides solutions to the main problems of algorithmic stablecoins. Arguably, the biggest challenges in the stablecoin ecosystem are unsustainable interoperability use cases, lack of dedicated incentivized oracles, and difficulty tracking auctions. The Standard Protocol solves these problems by generating collateralized stablecoins with elastic supply. They also recommend block rewards for oracle providers, with a ratio of 8:2 between validators and providers.
This integration will enable Standard Protocol to interact with the growing Polygon ecosystem, including blue-chip DeFi projects, expanding their stablecoin ecosystem to new users and strengthening their position as chain-agnostic multi-ecosystem stablecoin protocol.
About Standard Protocol
Standard Protocol is the first Collateralized Rebasable Stablecoin (CRS) protocol for synthetic assets that will operate within the Polkadot ecosystem. It has been granted with #DefiForAll Fund from Polygon and is also the first and only project from Korea to be awarded a Polkadot Web3 Foundation grant and prides itself on its global community growth approach.
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.
Source : blog.polygon