They are excited to announce that OptyFi is live on the Polygon Mainnet! This is an essential step in their mission of becoming a doorway to the entire DeFi ecosystem.
The OptyFi team has been working hard to build an unstoppable DeFi machine. With the support of the YIEDLers community, they have been improving their app to offer an optimal experience for their users.
- In December 2021, they deployed the Alpha Vaults on Ethereum: a USDC Vault connected to Curve, AAVE, and Compound.
- In January, they deployed Beta. They created a WETH vault and deployed their Convex adapter.
- In March, they made a significant update in the architecture of their vaults, enabling cheaper withdrawals, less slippage, and better yields.
For their community, deploying on Polygon means the opportunity of YIEDLing in a new ecosystem with new DeFi adapters, more liquidity pools, and more strategies. And the best of all: with low transaction fees.
Polygon is building various technologies to make Ethereum cheaper and faster while keeping high-security standards.
As Polygon is EVM-compatible, deploying an Ethereum dApp on Polygon is relatively easy from a technical standpoint.
According to DeFiLlama, Polygon is currently the 8th biggest chain in terms of Total Value Locked. Some DeFi Blue Chips are live on Polygon, such as AAVE, Curve, SushiSwap, and Uniswap.
Polygon also offers some DeFi opportunities not available on Ethereum. QuickSwap, Beefy Finance, Mai Finance are some of the most well-known DeFi names on that chain.
They intend to offer their YIEDLers easy access to the best yield opportunities across the whole Polygon ecosystem.
OptyFi on Polygon: What to expect
OptyFi journey on Polygon starts with a USDC vault.
Initially, the vaults will be connected to four DeFi Adapters: Curve, AAVE, Beefy and SushiSwap. QuickSwap and Mai Finance adapters are coming down the pipeline.
As they deploy more adapters, they expect to see an increase in the efficiency of their optimization engine.
The Polygon vaults will be only for whitelisted users until the token generation event (aka. OPTY launch).
You can get whitelisted by joining their Discord Server and getting a referral from one of their PowerYIEDLers or SuperYIEDLers, the OptyFi OG’s.
Their goal is to get constructive feedback on their product and have a fully operational YIEDLing machine before the token launch.
They believe distributing their governance token to the OptyFi community is the best way to start decentralizing their protocol. As a reward for using their product in the early stages, we’re rewarding 300 OPTY / day in each vault. However, this is subject to change at any time.
WAGMI! Just YIEDL with OptyFi.
OptyFi is a yield optimization protocol capable of executing thousands of yield strategies in real-time across liquidity pools, protocols and blockchains. The assets in their vaults are automatically deployed into the most optimal strategies matching users’ risk preference.
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 7000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.
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.