Standard Protocol has announced that the company has joined Polygon with #DefiForAllFund. This will enable the ERC20 token on Polygon, which provides a complete Full-stack scaling solution. The company is known for providing high-speed transaction support, scalability, and capacity. This will open doors for Standard to expand its vision on the stablecoin ecosystem and work on some of the DeFi projects.
About #DefiForAll Fund
The #DefiForAll Fund is a 150 million dollar DeFi fund created to scale up Ethereum and extend DeFi benefits, farming, and offering funds to a broader user base previously priced out of the revolution. AAVE, Sushiswap, Curve, and other well-known initiatives are among those supported by the #DefiForAll award.
Polygon is the world’s well-structured, user-friendly platform for Ethereum infrastructure and scaling development. Polygon SDK is its main element, an integrated, adaptable platform for creating and linking Secured Chains such as zkRollups, Plasma, Optimistic Rollups, and more, as well as Polygon POS, a Stand-alone Chain, which is built to offer flexible service. Polygon’s solutions for scaling have been widely adopted, with over 450 Dapps, 350 million transactions, and 13.5 million users.
About Standard Protocol
Standard Protocol is the Polkadot working ecosystem’s first Collateralized Rebasable Stablecoin (CRS) to work on synthetic assets. It has received funding from Polygon’s #DefiForAllFund and is the only initiative from Korea to get a Polkadot Web3 Foundation grant, and it takes pleasure in its worldwide community growth approach.
One of the challenges in the ecosystem of stablecoin is the un-sustainability of interoperability which uses cases, difficulty in tracking solutions, and lack of dedicated Oracles incentivized. Standard Protocol solves these issues.
Aarav Ghosh is a sub editor and contributor to NameCoinNews who specializes in covering latest stories and headlines of cryptocurrencies and blockchain. Additionally, he also covers latest news related to FinTech industry. He is a firm believer of next big transformation of world economy in terms of digitalization.