Polygon Announced Integration Of Yield Vaults With MakerDAO

Polygon announced the integration of yield vaults with MakerDAO, committing $50 million worth of Matic tokens as we can see more in our latest cryptocurrency news today.

Polygon announced integration with the yield optimization vaults on the Maker Network and the blockchain protocol referred to as the Matic Chain, tweeted that it will open a vault on Maker, and invested $50 million of tokens as agreed liquidity from the treasury. With the recent integration, it means that the protocol broadened its scope, vision, and transformation to become an ETH scaling aggregator and among others, this could see the protocol providing developers with L2 solutions. Also, this will be in addition to the PoS plasma Chian.

Polygon provides the core components and tools to join the new economy and the two key platforms materialize it: the polygon protocol and polygon framework. With the new technologies, any project can spin up a dedicated blockchain network that combines the best features of the stand-alone blockchains and ETH as well. These blockchains are with all of the existing Ethereum tools like MyCrypto Remix, Metamask, and more, and again, the exchange of information among themselves and with Ethereum is facilitated.

Polygon is a blockchain protocol and framework for creating and connecting Ethereum compatible blockchain networks and one is collapsing together scalable solutions on ETH and supports multiple chains in the ecosystem. Matic as the native token of Polygon is an ERC-20 token running on the blockchain so the tokens can be used for payment services on the blockchain and as a settlement currency between the users who operate within the Polygon ecosystem.

This turned out to be quite positive for the MATIC community as the token is hovering in the green zone marking 1% of growth. As an integral part of the announcement, MATIC tokens worth $50 million have been committed by Polygon on the newly opened vault on Maker. MakerDAO is a platform that develops technology for borrowing savings and stable crypto on the blockchain. It created a new protocol permitting anyone with a wallet to loan money in the form of a stablecoin or DAI. By integrating loans with the stable currency, MAkerDAO allows anyone to borrow money and reliably predict how much they will have to pay back which will alleviate the fear that used to come in an era of crypto to crypto borrowing.

Source: https://www.dcforecasts.com/altcoin-news/polygon-announced-integration-of-yield-vaults-with-makerdao/