It’s been less than two months since CVI added the Polygon network. Here are some stats about the platform activity and the growth they have achieved since:
The Total Value Locked (TVL) in the platform is about to hit $2.3M USD, compared to $3.1M USD in the Ethereum platform as of July 20th.
Over $66K USD was collected for $GOVI holders in fees.
Total volume in Polygon USDT platform hit the 12M:
And over 1700 interactions with the platform over time:
Staked GOVI tokens APY is 80%.
67% of the value locked comes from users that provide liquidity to the pools.
Processing transactions outside of the main Ethereum chain makes it possible for more users to open positions, provide liquidity, and stake much faster and with reduced gas fees.
After seeing such great results with Polygon, they have decided that the launch of CVI V2, which is just around the corner, will be available on Polygon first, even before Ethereum.
Asif Khan, Growth Defi — Polygon, commented:
The increased usage of CVI on Polygon is a testament to the hypothesis that synths can thrive in a low gas fees environment such as Polygon. This also shows the growing potential of fee-generating synths as a defi vertical, which is currently underutilized.
About Polygon
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.
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About CVI
CVI is a full-scale decentralized ecosystem that brings the sophisticated and very popular VIX, “market fear index” into the crypto market. It allows users to hedge themselves against market volatility and impermanent loss. It is created by computing a decentralized volatility index from cryptocurrency option prices, together with analyzing the market’s expectation of future volatility.
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