Gelato Automation is Live on Polygon
In the current reality of DeFi, old and new users alike are expanding to multiple chains in order to economically participate in the ecosystem. As these chains are utilized further, their demands for better user experiences will be as well, which is why Gelato is excited to announce that it is bringing its world-class automation solutions to Polygon.
“We are excited to have Gelato onboard, they are really pushing the boundaries of what once was thought possible for automation on Ethereum. It only makes sense to bring that capability to Polygon for the benefit of our projects and users,” said Sandeep Nailwal, Co-Founder of Polygon (previously Matic Network).
Polygon is the leading POS 100% EVM-compatible commit chain that uses an adapted version of plasma in order to achieve maximum scalability. The Polygon ecosystem revolves around the MATIC token which is used to secure the network and pay fees. For users who desire to perform smaller two or three-digit transactions, Polygon has proven itself to be the reliable solution and has been attracting a number of high-quality projects to its platform. Recently, Polygon’s DeFi ecosystem has been blossoming with activity including Zapper now allowing users to seamlessly migrate assets from Ethereum to Polygon through its bridge, Aave having over $640 million in total locked value on the chain, and its leading AMM Quickswap has over $30 million in daily volume.
Gelato is being utilized already by our partner Instadapp for moving AaveV2 debt positions over from L1->L2. Because of low gas prices on Polygon, very low fees will be charged for the service and migrations are nearly instant.
“It only took us one hour of development time to deploy our existing Gelato smart contracts to Polygon and to write the software package that gelato bots can run to automate InstaDapp’s cross-layer AaveV2 migrations.” — said Luis Schliesske, Founder of Gelato.
In a nutshell, Gelato allows developers to automate smart contract executions for their users. Polygon’s low-gas fees and quick transactions creates the ideal environment for Gelato to thrive. Many features that users are familiar with on centralized exchanges such as limit orders and dollar-cost averaging can now easily be implemented on Polygon-native products at a fraction of the cost.
Stay tuned for more announcements about upcoming collaborations.
About Polygon (Formerly Matic)
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Matic POS, designed for flexibility and independence. Polygon’s Layer 2 chains have seen widespread adoption with 130+ dapps, ~19M txns, and ~330K unique users.
About Gelato Network
Gelato Network is web3’s automation network, enabling developers to automate & relay arbitrary smart contract executions on and across all EVM-based compatible blockchains such as Ethereum.
Gelato’s goal is to provide developers with a reliable, scalable & decentralized network to which they can outsource all of their web3 related DevOps operations.
Examples of which features are powered by Gelato include:
- Limit Orders on PancakeSwap
- Periodically updating debt ceilings on MakerDAO
- Offering users gasless token claims on Connext
- Automatically compounding yield farming vaults on Beefy Finance
- Automating the breeding of new digital racehorse NFTs on ZED RUN
- Rebasing of algorithmic stablecoins with Tomb Finance
- Updating price oracles on Abracadabra
If you have any questions or need help getting started, please reach out to us in our Telegram community or email us at hi@gelato.digital.
We are looking forward to building with you!
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► Check out what we’ve been working on at 🍦http://gelato.network/🍦
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