DeFi DAO Jigstack Partners Polygon for Lower Gas Fees and Better Performance
No one cannot ignore the ongoing growth and expansion of Ethereum’s DeFi ecosystem. Jigstack, through its DAO, wants to help establish trusted decentralized finance protocols. A new partnership with Polygon — formerly Matic Network — marks a significant milestone for both projects.
The current Ethereum ecosystem cannot decentralize the “trust aspect” all that well, and new solutions need to be created. To this day, there is still a degree of centralization within this ecosystem that holds the industry back. Addressing these concerns requires out-of-the-box thinking to empower the end-user while at the same time advancing the Ethereum DeFi ecosystem.
The Jigstack DAO and Lemonade
One way to instill trust in Ethereum’s ecosystem — and DeFi in particular — is by looking at the Jigstack DAO. As a Decentralized Autonomous organization, thus “umbrella” spans multiple Ethereum-oriented DeFi solutions. One of its DeFi protocols, called Lemonade, changes the way teams can raise funds on the blockchain. Technical knowledge is no longer required, as everything can be set up through a web interface.
Lemonade is the first DeFi protocol governed by the Jigstack DAO and is fully compatible with all Ethereum wallets available to enthusiasts today. Given the approach Lemonade encompasses in decentralized finance, a partnership with Polygon makes sense. Lead Eth developer Kaue Cano explains:
“We’ll go for a hybrid-chain approach in order to make micro exchanges of cryptocurrencies feasible among our users. This is our go-to implementation, but for the future, we could feature full launchpad integration into their chain + ethlink as well. Polygon’s unique take on Plasma Layer 2 solution allows us to benefit from swift, efficient transactions without going through considerable development barriers.”
Polygon Offers Certain Benefits
Polygon, formerly known as Matic Network, wants to build the Internet of Blockchains for Ethereum. With a focus on building a multi-chain system, there are many possibilities to explore. Forging crucial partnerships with existing and new service providers plays a vital role in this regard. As Jigstack embraces decentralization and user empowerment, it is a good fit for what Polygon aims to achieve in the future.
Jigstack CBDO Charles Robinson adds:
“ Jigstack is excited to announce a partnership of developing on the new Polygon (formerly known as Matic) Plasma side-chain “Internet of Blockchains.” Jigstack is proud to offer our users the significantly reduced gas fees compared to the Ethereum Mainnet that Polygon affords and the increase in performance and transaction volumes that Polygon has achieved. Jigstack is excited to carry this partnership forward and for Polygon to be a key player in its core Defi technologies in the near present and into the future.”
By strengthening ties between both ecosystems, the Jigstack DAO will provide a better user experience to Ethereum Defi enthusiasts compared to other services on the market today.
Polygon wants to help Ethereum scale beyond its current capabilities, allowing the network to facilitate more [complex] processes. Jigstack’s Lemonade will use this technology to empower users through decentralization and transparency. It is a situation in which everyone wins, without having to rely on centralized authorities or intermediaries.
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 90+ Dapps, ~7M txns and ~200K unique users.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.
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