The Crypto Volatility Index ($GOVI) Integrates Polygon to Enable a Full Stack Scaling Solution For Its Users
We are happy to announce that after working with the Polygon team, another network is now available for CVI users via Polygon (formerly Matic Network) full stack scaling solution integration. By processing transactions outside of the main Ethereum chain, CVI users will be able to open positions, provide liquidity and stake, with the experience of reduced gas fees and faster execution. The Polygon network is available in addition to our existing platform on Ethereum (layer 1).
Ethereum gas costs are a major friction in the adoption of Defi platforms. This integration will allow more people to use the Crypto Volatility Index to hedge themselves against market volatility and impermanent loss while saving most of their gas costs.
We are proud to continue to lead the Volatility trading market by being the first Defi platform that offers a scalability solution.
We have been researching various rollups and sidechain solutions and have set our mind on Polygon, which became the leading solution for major Defi platforms such as AAVE and Sushiswap. We will continue to survey the market and may add other rollup solutions in the future as those become available.
How does it work?
And that’s it! You can now make any type of transaction on CVI, and pay next to zero gas fees.
We will airdrop 0.1 MATIC, covering the cost of more than a 1,000 transaction, directly to the Ethereum address of all the current CVI users in order to ease the transition.
The Polygon network solution launch marks the first major achievement emerging from the CVI V2 developments. Stay tuned for future announcements regarding the V2 progress.
Polygon 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 and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium etc and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scalability solutions have seen widespread adoption with 200+ Dapps, ~23M txns and ~364K unique users.
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