OIN partners with the popular Polygon (formerly Matic)
OIN partners with the popular Polygon (formerly Matic)
OIN is delighted to announce its latest partnership with Polygon, a top-notch layer 2 blockchain which provides secure, scalable and instant transactions. Matic, rebranded as Polygon, has pivoted towards addressing DeFi loopholes by becoming the most popular and talked-about platform for running Dapps. With this partnership, OIN will integrate MATIC tokens using OINDAO to issue stablecoins.
According to Richie Li, the co-founder of OIN, “The more our project (and the OINDAO) grows, the more excited we are. We’re getting all types of projects, from larger projects, to incredibly popular projects (like Polygon), as well as the smaller projects that fill out the rest of the space. We are truly well on our way to delivering DeFi to all of the blockchain space! We welcome Polygon, and can’t wait to see them live on OINDAO!”
What is OIN?
OIN is a platform that helps to stake rewards or yields insurance specifically designed to handle Altcoins. OIN brings Defi facilities such as issuing Stablecoins to various blockchain projects using a multi-faceted infrastructure. With the use of the latest blockchain trend, Defi, OIN empowers projects, small or large.
What is Polygon?
Polygon is a Layer 2 scaling solution that scales up by utilizing side chains for off-chain computation. It concurrently also ensures increased asset security using the Plasma framework and a decentralized network of Proof-of-Stake (PoS) validators. It aims to be the de-facto platform on which developers will deploy and run decentralized applications.
Polygon has brought massive scale to Ethereum using an adapted version of Plasma with PoS based side chains.
What does this partnership entail?
Polygon is one the largest crypto platform that leverages the Plasma framework and PoS network securing the assets. Polygon is consistently making the crypto world accessible to even small investors by supporting low gas fees and quick transaction time. Its efforts have been incessant and persistent in this direction.
By integrating Polygon’s MATIC tokens to the OIN network, it’ll enable Polygon to issue their stablecoins allowing users to earn yield and staking bonus while providing the security and boosting liquidity leveraging of OIN’s asset pools.
Sandeep Nailwal, Co-Founder and COO at Polygon said, “We’re please to have $MATIC added to the OIN network, enabling Polygon users to issue stablecoins and earn yield and staking bonuses, further unlocking value for Polygon.”
This partnership is a big step for OIN as it integrates with the most popular one-stop crypto platform. The benefits are multifold as it allows its users to scale, fasten and secure their dapps while supporting asset interoperability. While OIN will enable Polygon to mint its own stablecoin, this is just the beginning where the possibilities are endless.
About OIN
OIN is a decentralized stablecoin issuance and trading platform. While MakerDao allows only mainstream assets to be used as collateral to issue DAI, OINDAO allows projects, large or small, to issue their own brand labelled synthetic assets that are collateralized by their own coins; in essence, any projects can mint their own stablecoins to participate in the greater DeFi ecosystem. Starting with Ethereum, and gradually expanding to other popular ecosystems such as Polkadot, Avalanche, and Near, OIN is on track to become a one-stop shop for cross-chain stablecoin issuance, trading, and implementation.
With planned off ramps and use cases such as swapping for other mainstream stablecoins, adding leverage, hedging, lending, and a plethora of ecosystem-specific utility, OIN is expanding DeFi to cover all of the crypto space.
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