Cryption Network Launches its Decentralizied Exchange on Polygon

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.

Cryption Network Launches its Decentralizied Exchange on Polygon 1

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.

https://twitter.com/CryptionNetwork/status/1420682106540154880

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.

Social Links

https://twitter.com/CryptionNetwork

https://twitter.com/Polydex

Media Contact

Company: Cryption Network

Contact: Suchit K., Marketing Manager

E-mail: suchit@cryption.network

About the author

Brent Dixon is the owner of E-Crypto News and an early adopter of cryptocurrencies. He is a Book editor- that has edited numerous books on Cryptocurrencies. He has been a writer for more than 30 years. Covering everything from Jazz Music to Blockchain Technology. He currently lives with his wife on Miami Beach, Fl.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin63,149 0.27 % 5.39 % 2.54 %
Ethereum4,208.0 0.05 % 5.88 % 9.18 %
Binance Coin486.83 0.12 % 3.83 % 3.45 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Cardano2.170 0.54 % 3.17 % 0.36 %
Solana212.59 0.22 % 13.24 % 32.98 %
XRP1.100 0.48 % 2.75 % 0.69 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Dogecoin0.2635 0.44 % 1.95 % 10.74 %
USD Coin1.000 0.14 % 0.20 % 0.17 %

bitcoin
Bitcoin (BTC) $ 63,099.00
ethereum
Ethereum (ETH) $ 4,205.50
binance-coin
Binance Coin (BNB) $ 485.12
tether
Tether (USDT) $ 1.00
cardano
Cardano (ADA) $ 2.16
solana
Solana (SOL) $ 212.35
xrp
XRP (XRP) $ 1.09
polkadot
Polkadot (DOT) $ 44.23
dogecoin
Dogecoin (DOGE) $ 0.261818
usd-coin
USD Coin (USDC) $ 1.00