DAFI Protocol Partners with Polygon to Enable Creation of dMatic Tokens
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DAFI Protocol Partners with Polygon to Enable Creation of dMatic Tokens

Friday, May 7, 2021 9:00 AM
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SINGAPORE / ACCESSWIRE / May 7, 2021 / DAFI Protocol has officially announced a partnership with Polygon (previously Matic Network) to enable the creation of synthetic dTokens utilizing DAFI's brand new 'Simulate' platform. The partnership comes as DAFI gears up for the mainnet launch of its new product on Polygon.

This partnership will allow creation of dMatic tokens that will enable the seamless distribution of staking rewards for the users. By implementing DAFI's inflation model and staking mechanisms, Polygon will incentivize long term users without releasing large quantities of native tokens into the DeFi ecosystem.This is a completely new form of staking, designed for keeping users in the system.

The integration of dMatic tokens will rejuvenate the DeFi ecosystem creating an extensive value for users. Both early supporters and long term users will get an opportunity of earning greater incentives as a part of a rewarding model once the new staking mechanisms are introduced for Polygon. In particular, DAFI will allow creation of own flavoured dTokens that will help in balancing the supply and protect the network from supply shocks. This will further result in maintaining the token's price, thus protecting from huge price drops.

DAFI's New Simulate Launched on Polygon (Previously Matic) Mainnet

DAFI recently launched its first synthetic application, DAFI's Simulate, which will enable users to create synthetics from existing crypto assets and showcase demand pegging by launching on the Matic Mainnet. Users will be required to pay transaction fees in Matic tokens to enable creation of synthetics. In order to drive mainstream adoption, Polygon will support DAFI by driving scalability, low transaction costs and adaptability.

In addition, this partnership will bring new avenues of awareness for the community to explore opportunities. With greater awareness follows mainstream adoption. We are confident that this partnership will strengthen the ties of massive DeFi adoption. The DAFI's inflation model possesses a solid use-case driving long term utility.

Sandeep Nailwal, Co-Founder at Matic Network said, "Focusing on Ethereum's interoperability and scalability issues, Polygon aims to set a strong foundation for a better world tomorrow. By injecting DAFI's unique staking models in Polygon's ecosystem, Polygon will be equipped to incentivize early adopters and long term supporters in a fair and transparent manner. With the iteration of dTokens for decentralized ecosystems, the future seems promising."

Zain Rana, CEO of DAFI Protocol said, "With the recent launch of our first synthetic creation platform, synergizing with Polygon has opened endless possibilities. Along with leveraging Matic's mainnet for our product launch, DAFI will be integrating its flavor of dMatic tokens into Polygon's ecosystem. By utilizing dMatic tokens, Polygon will be able to appropriately reward users according to changing network demands. We are excited to introduce the Polygon ecosystem with DAFI's utility in the decentralized ecosystem"

About Polygon

Polygon (previously Matic Network) 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 multiple types of applications.

About DAFI Protocol

DAFI reinvents how every decentralized network is rewarded. By creating synthetics pegged to different decentralized networks, every blockchain and cryptocurrency can create a dToken flavor to reward their early users while still enhancing scarcity when demand is low.

DAFI can reward a network even when demand declines by issuing synthetics that will reward user's later - instead of earlier. This approach will change the foundation of all staking, liquidity, and even social reward systems for the entire decentralized world.

Media Contact:

Company: DAFI Foundation Ltd
Contact: Zain Rana
Email: [email protected]
Website: https://www.dafiprotocol.io/
Telegram: https://t.me/dafiprotocol
Medium: https://dafiprotocol.medium.com/
Address: 3 Fraser Street #05-25 Duo Tower, Singapore 189352

SOURCE: DAFI Foundation Ltd

DAFI Foundation Ltd
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