Midas Capital Brings Isolated Lending To Polygon
Continuing on our mission towards becoming a multi-chain protocol, we are delighted to announce the launch of Midas pools on the Polygon ecosystem.
Users, protocols, and DAOs will now be able to lend, collateralize, and borrow assets through customizable money markets and unlock the full potential of their assets. As we move towards integrating new blockchains and ecosystems into Midas Capital, Polygon has always been one of the top choices for the deployment of Midas pools. Polygon has emerged as a top ecosystem for both projects and users. The platform offers scalable solutions with fast and cheap transactions, which has resulted in huge trading volume and a wide range of projects deployed on Polygon. Midas Capital aims to bring additional value to the ecosystem by bringing isolated money markets for both retail and institutional investors.
Get started with Midas on Polygon
Bringing Midas Pools To The Polygon Ecosystem
With isolated money markets known as Midas pools, users, protocols, and DAOs can lend, collateralize, and borrow a variety of assets across prominent ecosystems. Moreover, pool builders can build their own pools with custom parameters to offer their own money markets.
Polygon ecosystem has cemented its place as one of the best ETH side-chains in the market and is witnessing huge uptrends in DeFi, housing a number of established projects with deep liquidity. With the integration of Midas pools into the Polygon ecosystem, users can now be a part of a highly scalable, vast, and rewarding ecosystem.
Moreover, developers and projects at Polygon that wish to provide cross-chain money markets to their users can also utilize the Midas SDK. The SDK is a chain-agnostic toolkit assisting developers in managing, creating, and interacting with Midas pools.
Talking about the addition of Polygon, Carlo Mazzaferro — Lead Engineer at Midas Capital, said: “In line with our vision of democratizing capital-efficient borrowing and lending, we’re excited to announce the deployment of Midas Capital to Polygon. The chain offers a vast DeFi ecosystem, accompanied by high-quality price Oracles and liquid AMMs, making it an ideal platform for building specialized money markets. Protocol builders and DeFi users can now benefit from a novel piece of infrastructure in yet another highly liquid, low-fees chain.”
While many new pools of Polygon projects will be added to Midas, users, protocols, and DAOs can get started with the Jarvis Network jFIAT pool. Pool participants can collateralize a variety of assets, including JCAD, JEUR, JGBP, JAUD, and borrow supported assets.
The initial launch will include predetermined pools of several other protocols; more information on them will be given in the upcoming announcements.
ERC-4626
Midas Capital is also leveraging ERC-4626, the tokenized vault standard, to optimize and unify the technical parameters of yield-bearing vaults. Thanks to a standard API for tokenized yield-bearing vaults, the integration effort is lowered to a minimum, and projects can seamlessly unlock access to yield in various applications with little specialized effort.
At Midas, we utilize the ERC-4626 standard to provide highly rewarding pools and offer better earning opportunities. In multiple pools, users can deposit the supported assets, which are then redeposited into various strategies that generate yield. Therefore, users can earn an additional yield on their deposits even when using them as collateral.
About Midas Capital
Midas Capital is bringing isolated and customizable money markets to EVM-compatible blockchains. Enabling users, DAOs, and protocols to create customized and isolated pools for lending and borrowing any asset, Midas is building a cross-chain ecosystem that democratizes money markets. Pool creators have the flexibility to modify pool parameters (interest rate curves, oracles, collateral factors, pool fee, etc.) according to their risk appetite. With isolated pools, Midas offers stellar features for large-scale institutions, protocols, and traditional investors.
