- Harvest yield farming aggregator and asset management platform is integrating Polygon blockchain to lower its gas fees.
- Polygon’s network use is growing exponentially, with over 450 DApps, about 350 million transactions, and more than 13.5M unique users.
Polygon platform is venturing further into DeFi and yield farming through its latest collaboration with Harvest Finance. Harvest Finance, one of the earliest yield farming aggregators, will now be able to deploy farming strategies on the Polygon network. This development will benefit users, largely reducing the entry barriers.
Notably, decentralized finance (DeFi), is a fast-growing industry with numerous opportunities, products, and services. Leveraging on this, Harvest, which is also an asset management platform, gives users a maximum yield on assets deposited. Such include tokens, stablecoins and liquidity pool tokens. Those holding assets without making use of them can take advantage of this offer, rather than having their assets lie idle.
Launched on September 1st, 2020, Harvest upholds the slogan “Bread for the People.” The platform has now grown to become one of the largest and most vibrant yield aggregators in the world. Through its Operational Treasury, Harvest also funds programs like bounty programs, creativity contests, and prizes for developer contests.
Harvest seeks greener fields
Nevertheless, launching on the Ethereum network posed a few obstacles for the yield farming aggregator. The most significant is the high network fees users have to part with. For smaller farmers, these cuts could eat into their returns. Ensuring cost-efficiency makes it imperative for Harvest to take up different solutions aside from the Ethereum network. Polygon came up as one of the solutions to high gas fees.
With this integration, Harvest can now introduce new farming strategies, such as vaults, for users at a more affordable cost. Additionally, Polygon’s fast and user-friendly technology facilitates Ethereum scaling thereby introducing users to the world of Web 3.0.
Key notes
Moreover, Polygon’s well-designed platform facilitates infrastructure development on the Ethereum network. All Ethereum developers are Polygon developers. Of note, Polygon’s primary component is the Polygon SDK. It is a modular and flexible network that underpins the development and linking of Secured Chains. Such chains include Plasma, zkRollups, Optimistic Rollups, and Validium among others. Polygon SDK also supports Standalone Chains such as Polygon POS that has inbuilt independence and flexibility.
Owing to its lower network costs, Polygon has pulled in a myriad of projects both in and out of the DeFi industry. The scaling solutions provider now supports over 450 DApps and approximately 350 million secure transactions. The network’s user base has also grown to roughly more than 13.5 million unique users.
Harvest, on the other hand, is an asset management platform designed to maximize yields on assets deposited by users. The platform keeps placing efforts in cutting down gas costs, which benefits both users and developers. More so, Harvest is developing advanced strategies to become the one-stop-shop for DeFi yield farming. The cooperative aims at improving access to yield farming techniques to anyone, including those that are currently underbanked.
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