We are thrilled to announce that Teller Finance, a money market protocol for risk underwriting and undercollateralized lending is deploying on Polygon.
“Teller wants to remain blockchain agnostic and EVM compatible, but accounting for immediate network issues with Ethereum is pivotal for our mission,” said Ryan Berkun, CEO of Teller. Developers can easily port Ethereum DApps onto a scalable network such as Polygon PoS commit-chain that solves concerns around network costs, rising gas fees, and security.
“We are happy to help Teller deploy on Polygon and to assist their team as they accelerate the development of DeFi applications on our network. Additionally, we anticipate this partnership with Teller will be a catalyst for joint initiatives moving forward,” said Sandeep Nailwal, Co-Founder of Polygon.
Teller NFT holders can easily bridge their NFTs from Ethereum to Polygon to begin staking their NFTs, receive their base loan value, and extract loans. Polygon users can begin making deposits and fund liquidity pools within Teller’s Polygon mainnet. Teller’s protocol is also live and available for use on the Ethereum mainnet.
Teller joins some of the best developers in the space such as DeFi blue-chips Sushiswap, Curve, Aave, Balancer, Kyber to build on Polygon. Polygon provides developers access to millions of potential users with integrations with major wallets including Trust Wallet, Coinbase Wallet, Huobi Wallet, imToken, etc.
About Teller Finance
Teller is an open-source protocol that interacts with consumer data to calculate default risk and offer unsecured crypto-asset loans. Users can supply liquidity to the protocol’s lending pools and earn interest from repaid loans. Teller leverages borrowers’ credit history to calculate an annual interest rate based on market conditions vs. consumer credit risk, reducing or eliminating the need for collateral to offer unsecured crypto asset loans. The protocol will act as a data layer for the underwriting of risk and the development of a new credit infrastructure for DeFi.
For more information, please visit: https://teller.finance/
Follow us on Twitter: @useteller
Join our community on Discord: https://discord.com/invite/Qeqb7Zp
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 500+ Dapps, ~567M+ txns, and ~6M+ daily txns.
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.
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Source : blog.polygon.technology