The DeFi has grown exponentially, and with the growth, it has exposed different scaling issues in the Ethereum Network. As the demand for the Ethereum Network increased, so did the network congestion, transaction time, and gas fees. As a result, users turned to an alternative Polygon side scaling solution that has become the go-to mainnet to build DeFi projects on.
Polygon side scaling solution offers faster and cheaper transactions. Several projects are leveraging this feature and shifting their bases from Ethereum to Polygon. While other platforms are running their ecosystem on both the network to provide easy to-and-fro movement from one network to another.
DeFiPie – The multi-chain Lending Protocol
DeFiPie announced on Thursday that the platform is now live on Polygon Mainnet, and users can start borrowing assets and earn lending interests. DeFiPie is a multi-chain lending protocol that allows everyone to create lending pools for any assets on Ethereum, Binance Smart Chain, and now Polygon Networks. This working model of DeFiPie resembles the multi-layers of pie and hence the name DeFiPie.
DeFiPie combines the best features of Compound, MarkerDAO, Aave, Curve, and other such DeFi apps to create an amalgam of Decentralized Finance. The platform promotes freedom by allowing its users to create custom liquidity pools, borrow funds using $PIE, participate in the governance, and earn an APY of up to 150%.
DeFiPie offers a variety of services such as
- Liquidity Pools
Users can lend Ethereum, Binance Smart Chain, and Polygon assets to earn interest on crypto loans plus liquidity mining rewards.
- Lend and Borrow
Users can use any ERC-20, BEP-20, or Uniswap LP token as collateral to borrow from DeFiPie.
- Custom Pools
Users can create a custom pool of any ERC-20 or BEP-20 token.
DeFiPie is a DAO, so every $PIE Token holder gets the ability to vote and influence the platform’s future. It is planned to go live soon.
- Liquidity Farming
The APY of DeFiPie is one of the highest in the market, which converts the borrowing rate to a negative, thus maximizing the profits.
DeFiPie is a promising project that will provide better services to its users after the launch of Polygon Network.