Resonate Announces Support for Polygon!
Happy to announce that we’re bringing Yield Futures to Polygon!
Since being founded in 2017, the team has displayed tremendous skill and speed when rolling out Polygon — something we endeavor to emulate. As such, they deservingly find themselves in a tremendous position for continued growth. With over 1.3B in TVL, Polygon’s mature ecosystem is primed for adoption of the next stage of DeFi development. An ecosystem where you can access up-front yield and customizable liquid token lock-ups, while all participants benefit.
What is Polygon?
Polygon, formerly known as the Matic Network, is a scaling solution that aims to provide multiple tools to improve the speed and reduce the cost and complexities of transactions on blockchain networks.
Polygon operates primarily as a layer-2 network, meaning it acts as an add-on layer to Ethereum that does not seek to change the original blockchain layer. Polygon’s mission is to help Ethereum expand in size, security, efficiency, and usefulness.
How does Polygon work?
Polygon is a multi-level platform built to effectively scale EVM contracts via a plethora of side-chains, all of which aims to unclog with the main platform in an effective and cost efficient way. These side chains can be built using one of the following construction scalability methods including Plasma Chains, zk-Rollups and Optimistic Rollups.
Polygon effectively transforms Ethereum into a full-fledged multi-chain system. This multi-chain system is akin to other L1s such as Avalanche or Polkadot, but with the advantages of Ethereum’s security, vibrant ecosystem and openness.
Resonate is a Yield Futures Protocol developed by Revest Finance and built on top of Revest’s Financial NFT (FNFT) technology. Using Resonate, we’re able to separate the principal and interest components of a position by issuing two FNFTs; one containing the principal and the other containing the rights to future interest on that principal. Resonate facilitates the commerce of the rights to future interest by matching issuers (who want to sell their interest rights for a one-time upfront payment), and purchasers (who want to buy the rights to future interest for a one-time upfront payment).
About Revest Finance
The Revest Protocol offers a revolutionary new use of NFTs as financial tools through the Financial Non-Fungible Token (FNFT). Individual and enterprise-level users can deposit any ERC-20 or ERC-721 into Revest’s interactive FNFTs and set custom unlocking conditions (time, value, or contract-based). Revest allows the tokenization of all non-fungible financial positions with non-fungible tokens. This simple turn-key solution offers elegant applications ranging from token vesting to cutting-edge implications for derivative and borrowing/lending platforms. Revest’s flagship product, Resonate, is underpinned, fundamentally, by this innovative technology.