We’re pleased to announce the launch of a 150M$ DeFi Fund to make DeFi more accessible and cost-effective to bring the next million users to DeFi.
Top DeFi protocols like Aave and Curve launched on Polygon have seen a departure from the usual whale-dominated farming. Instead, what we’re seeing is that the capital size is smaller, but the number of active users is exponentially growing. For instance, Aave has seen more than 7500+ users lock $1 Billion in liquidity, within weeks from launch! Also, this has led to a user growth of more than 30% for Aave with the majority of users on Aave Polygon with significantly less capital.
The #DeFiforAll Fund was set up with the objective of bringing the benefits of DeFi, farming and lending to a larger user base that was traditionally completely priced out of the revolution.
We have committed up to 2% MATIC total supply ($150 mn at the time of writing) for this long-term fund to continually grow and support DeFi over the next 2–3 years. We’ve supported Aave and Curve with massive liquidity mining programs, and we hope to support the best DeFi protocols from the DeFi fund, and take their incredible products to the masses and Polygon’s incredible community.
Source : blog.polygon