TORTOLA, British Virgin Islands, Aug. 05, 2021 (GLOBE NEWSWIRE) — Cryption Network, a user-friendly DeFi platform built for retail users, has launched its decentralized exchange (DEX) platform, PolyDEX.
According to the announcement published on Wednesday, the DEX platform is now live, with ETH-AAVE, ETH-DAI, ETH-USDT, USDC-DAI, USDC-ETH, USDC-USDT, WBTC-ETH, WBTC-USDC, WMATIC-ETH, WMATIC-USDC, CNT-ETH, CNT-USDC, and CNT-MATIC being the initial farms on the exchange.
As per the recent announcement on Twitter, Within 24 hours of the launch of PolyDEX, It has reached a total value locked of over $1 million.
Launched in 2021, Cryption Network quickly became the go-to platform for retail investors thanks to its DeFi 2.0 product suite. Cryption Network launched with the goal to increase the adoption of cryptocurrency while allowing retail investors to take advantage of this space. Cryption recently announced two major launches this week i.e Cryption Wallet and PolyDEX.
PolyDEX – Redefining the DEX experience
PolyDEX is Cryption Network’s decentralized exchange which will enable gas-free trading for CNT and other cryptocurrency tokens and will make transactions easy.
PolyDEX, the flagship product of Cryption network, envisions transforming the traditional DEX space with its Next-generation instant, gasless, cross-chain AMM DEX with yield farming, which is currently live on Polygon mainnet. As per their blog post, PolyDEX is an AMM DeFi exchange with a novel concept called Elastic yield farming in functioning.
Elastic yield farming is introduced by the exchange to incentivize liquidity on the DEX. The exchange will also act as the bridge to bring liquidity from Ethereum to Matic. The exchange platform will be offering IFO solutions to its partner projects and also enable the integration of Cryption ecosystem products.
The Vision of exchange is to redefine the DEX experience of users and onboard millions of new users to the DeFi and cryptocurrency world by providing a seamless and easy-to-use yield farming platform.
The rise of the New DEX Era
The launch of PolyDEX marks the rise of the new DEX era which will enable easy onboarding for new users where users can trade seamlessly without paying high gas fees. PolyDEX will enable gas-free trading and an easy-to-use interface for first-time DeFi users. PolyDEX will also enable users to add liquidity and participate in farms in order to earn yield. The cross-chain functionality and interoperability of PolyDEX will allow trading between different blockchain platforms Polygon, Ethereum, and other L1s.
For completely gasless and seamless trading, yield farming, investing, and far more, check out PolyDEX today.
Company: Cryption Network
Contact: Suchit K., Marketing Manager