DEFI SCALING FOR USERS: POLYGON JOINS NORD FINANCE TO FURTHER ACCELERATE DEFI ADOPTION.

Nord Finance is a blockchain agnostic platform and is getting close to launching Nord Savings V2 on other blockchains. Nord Finance has been working tirelessly on scaling mechanisms for its product ecosystem while maintaining the highest security standards.

Nord Finance is pleased to announce that it has partnered with Polygon, the leading Ethereum scaling and infrastructure creation platform ( previously known as Matic Network).

The collaboration will look at all of the possibilities for bringing DeFi assets into the broader financial ecosystem. Increased DeFi adoption will result from this strategic alliance, improving the overall user experience and encouraging mainstream users to engage in the innovative financial paradigm.

The Nord-Polygon partnership’s dynamics

Nord Finance will expand its product ecosystem to Polygon as part of this partnership. The Polygon Network can see the expansion of Nord Savings V2. For the efficient management of stablecoin properties, Nord Savings can use Polygon’s POS bridge. The working bridge will be crucial for depositing and exchanging stablecoins and implementing yield farming strategies. Nord Finance will be able to inject more liquidity into Polygon’s ecosystem due to the collaboration commitment.

Polygon Brief Integration Plan (NORD)

1. $NORD is being mapped to the Polygon network, allowing users to freely carry and exchange the network with the lowest possible fees.

2. Nord Savings V2 is being deployed on Polygon, allowing for liquidity mining through the $NORD rewards pools application.

3. Using the NORD Savings web app, users can deposit their secure assets using an existing POS bridge.

4. When stable coins become available, they will be incorporated and onboarded directly on the Polygon Network (without a POS bridge).

5. NORD Savings V2 will combine yield farming techniques, rewarding users with the best secure coin APYs from the Polygon network’s numerous lending platforms.

Polygon is a full-featured infrastructure development framework that transforms the Ethereum Network into a multi-chain system that is well-structured and simple to use. Previously known as Matic Network, it was dedicated to supporting Ethereum-based blockchain scalability solutions.

An in-depth review of this relationship shows that it would simplify DeFi investments for users by leveraging Polygon’s robust technological support. Apart from the benefits mentioned above, Nord Finance’s integration with Polygon will allow cost-effective trades with minimal gas fees.

With the Ethereum Network’s current network congestion and rising gas fees, Nord Finance will gain a significant amount of value. This partnership will allow faster transactions, improve the user experience, and support a new wave of scalability to fuel adoption.

DeFi Savings in the Future

Amarnath Reddy, CEO and Co-founder of Nord Finance expanded on the partnership’s dynamics.

Since the advent of decentralized finance, decentralized investments have proved to be complicated. Tech-savvy investors have always had an advantage in terms of using innovative strategies to optimize their investment returns. On the other hand, the inexperienced consumers had a restricted scope due to technical obstacles, which complicated the entire investment process.

Nord Finance hopes to resolve the existing problems with DeFi investments on the Ethereum Network, such as high gas fees and scalability, by partnering with Polygon. This is the first step toward mainstream acceptance of decentralized assets.

About Polygon (Formerly Matic)

Polygon is the world’s first well-structured, simple-to-use Ethereum scaling and infrastructure creation platform. Polygon SDK is its central component, a modular, versatile system for building and linking Protected Chains such as Plasma, Optimistic Rollups, zkRollups, Validium Standalone Chains such as Matic POS, which are made for versatility and independence. With 90+ Dapps, 7M txns, and 200K unique users, Polygon’s Layer 2 Chains have seen widespread acceptance.

About Nord Finance

Nord Finance is a blockchain-agnostic decentralized financial ecosystem that simplifies decentralized finance products for consumers by emphasizing traditional finance’s main characteristics. It is built on the Ethereum Network and incorporates multi-chain interoperability, allowing it to provide a range of financial primitives such as deposits, advisory, asset-backed loans, investment/funds management, and swaps.