The Crypto Volatility Index ($GOVI) and Polygon — Achievements to date

It’s been less than two months since we added the Polygon network to CVI. Here are some stats about the platform activity and the growth we have achieved since:

The Total Value Locked (TVL) in the platform is about to hit $2.3M USD, compared to $3.1M USD in the Ethereum platform as per July 20th.

Over $66K USD collected for $GOVI holders in fees!

Total volume in Polygon USDT platform hit the 12M:

And over 1700 interactions with the platform over time:

Staked GOVI tokens APY is 80%!

67% of the value locked comes from users that provide liquidity to the pools.

Processing transactions outside of the main Ethereum chain makes it possible for more users to open positions, provide liquidity, and stake much faster and with reduced gas fees.

After seeing such great results with Polygon, we have decided that the launch of CVI V2, which is just around the corner, will be available on Polygon first, even before Ethereum.

Asif Khan, Growth Defi — Polygon, commented:

The increased usage of CVI on Polygon is a testament to the hypothesis that synths can thrive in a low gas fees environment such as Polygon. This also shows the growing potential of fee-generating synths as a defi vertical, which is currently underutilized.

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CVI is a decentralized volatility index for the crypto space — powered by COTI network