Enzyme’s Polygon deployment is live, and it is the most exciting thing for the company.
Enzyme was previously available only on Ethereum and recently launched the newest Sulu release on Ethereum a few weeks ago. Enzyme is also launching live and working mainnet on Polygon today.
Users of Polygon will benefit from lower transaction costs and be able to connect with the rapidly expanding asset world and DeFi ecosystem.
This launch will also benefit investors with low costs. Polygon’s faster transaction speeds and considerably lower gas fees will make asset management far more reasonable for many customers.
This news comes on the heels of the release of Sulu v4, which features an entirely new user interface, dozens of DeFi connectors, and allowing users to have access to different assets. Enzyme also included some information on the advantages and disadvantages of creating a vault on Polygon vs. Ethereum below.
In the initial stage, about 65 items will make up the initial Polygon asset universe, including both Polygon-native and Ethereum-native objects mapped over to Polygon. Enzyme will also support DEX trading through Paraswap and Uniswap, and AAVE lending and borrowing. We want to add support for Curve pools, Orion, and Fuse in the following weeks!
Features in this new Sulu product
- Create your ticker for your vault!
- You can build liquidity pools and trade your vault shares across the secondary market with transferrable vault shares!
- A new set of risk management tools allows you to transfer execution to third parties efficiently while maintaining complete protection.
- Redeeming in a single asset as well as “in-kind” is now allowed (you decide)
- Users can customize a new sort of fee on exit.
- There will be charges on the vault for gas expenses! Users can set up the gas relayer and request a refund from the vault to deduct trade charges.
- When you pay your fees with MLN, you’ll get a 50% discount!
Pros and Cons of Launching vault on ETH
More comprehensive options of DeFi Integrations- Enzyme presently enables trading on Paraswap, V3, and Uniswap v2 0x, Kyber, and Curve and provides liquidity to Curve pools Convex pools, Yearn strategies, and Idle strategies.
Gas Relayer Function- The user can charge the gas fees directly to the vault instead of the vault manager, making it easier to maintain and administer your vault, especially if you plan to conduct transactions frequently.
Higher gas fees: Ethereum gas fees can add up quickly, but our new Gas Relayer tool allows vault managers to directly bill this cost to the vault.