Barnbridge Introduced on the Polygon Network
BarnBridge made the most exciting announcement of launching on Polygon Network by deploying its smart applications SMART Exposure and SMART Yield on the network. According to Polygon MATIC price prediction, the Polygon market of Aave is around 30% of the volume of the v2 market on the mainnet of Ethereum. The team at Polygon is dedicated to making provision of $MATIC worth $85M for liquidity mining throughout the year. The protocol of risk tokenization of BarnBridge and its smart applications enables users to make selections from opposing pools and review their positions on asset prices, interest rates, and other risk factors.
The deployment of the BarnBridge applications on the Polygon network represents the first expansion of BarnBridge beyond the mainnet of Ethereum.
Smart Yield is following the pathway of Aave. It is employed to plug into the external lending market to allow BarnBridge to enable cross-chain deployment of its smart applications. SMART Yield’s deployment on Polygon Network will also allow the application to distribute the $MATIC token rewards. The other application of BarnBridge, SMART Exposure, was initially deployed on the mainnet of Ethereum before its deployment on Polygon Network. The deployment of the smart contracts of BarnBridge at Polygon Network reflects the modifications of the rDiv parameter at the mainnet contracts.
SMART Yield provides variable and fixed yields on the deposits of stablecoin at different lending markets like Compound, Aave, and C.R.E.A.M. Finance. To learn more about the platforms, you can read our lending platform reviews. Also, you can walk through our Aave lending review for more information and detail about this platform. On the other hand, SMART Exposure automates the management of user position between the assets of ERC-20 at set ratios.
The Polygon Network does away with the scaling issues of Ethereum. The network removes the gas fees of the fixed income senior bonds of SMART Yield. The reduction in gas fees will draw in new users and enable unique user activities.