Following the successful fundraising last week, the AI quant-based liquidity aggregator is on track for a major strategic collaboration with a prominent name in the industry – Polygon.
FLUID Makes it Faster
The liquidity aggregator FLUID has announced its partnership with blockchain giant Polygon (MATIC) to provide super-fast, low-cost transaction solutions for users. Polygon, the popular Ethereum scaling platform, will serve as FLUID’s primary DeFi chain.
Polygon network is in its golden age.
Since the beginning of 2022, the DeFi ecosystem on Polygon has seen remarkable expansion, particularly in decentralized finance and NFT.
The Ethereum layer-2 solution has a lot of promises, such as strong scalability, a seamless user experience, and ultimate security with consistent support.
Polygon is now home to over 130 million addresses, over 700 decentralized apps developed on top of the network, and more than 3.4 billion transactions.
A Solid Base for More Growth
The goal of this collaboration is to tap into centralized and decentralized finance markets and improve liquidity fragmentation, which has presented a number of exchanges with obstacles.
FLUID’s President and CEO, Ahmed Ismail, highlighted the partnership’s core value with Polygon:
“FLUID’s philosophy to provide ultra-low latency and costs is deeply intertwined with Polygon’s. As the future of aggregated liquidity, we will grow with Polygon, and together provide ultra-efficient solutions and best execution practices to virtual asset markets in both the CeFi and the DeFi space.”
Polygon is a layer-2 scaling solution based on Ethereum that debuted in 2017.
To secure transactions, it uses the Proof of Stake consensus mechanism. Polygon transaction data is also published to the Ethereum main chain on a regular basis to ensure the blockchain’s integrity.
Layer-2 solutions are demonstrating their amazing advantages to solve the ongoing concerns as Ethereum’s congestion and gas fee pains worsen nowadays.
Polygon has big plans to implement all layer-2 solutions on their projects in the near future, creating a cost-effective and ideal DeFi all-in-one solution platform for both users and developers.
It’s a perfect fit for FLUID’s strategy of resolving fragmented liquidity because of all of these significant aspects.
FLUID’s CTO Jason Jiang said:
“FLUID is delighted to adopt Polygon as its primary DeFi chain to improve fragmented liquidity. By building on Polygon, $FLD token-holders will have access to a premium experience at ultra-low latency and ultra-low transaction fees. Given Polygon’s creative scaling solutions for the Ethereum blockchain, we decided to adopt Polygon after doing significant market research.”
FLUID will benefit from Polygon’s features including Ethereum-compatibility, scalability, security, user experience, and many more.
Polygon includes all of the parts and capabilities that FLUID will need to build and develop the future liquidity aggregator. Furthermore, because the network can grow to hundreds of thousands of transactions per second, transaction fees on Polygon are extremely low.
FLUID’s team raised $10 million from a number of well-known venture capitals last week. GSR, Ghaf Capital, and 21Shares led the round of fundraising. FLUID’s selling feature is that it uses AI quant-based models to save costs and provide ultra-low latency.
This one-of-a-kind infrastructure is intended to address major issues in cryptocurrency trading and DeFi operations. With more efficiency, everything will be easier.
The objective of FLUID is to create a decentralized, fair, inclusive, and transparent cryptocurrency ecosystem for all CeFi and DeFi users across numerous smart contract platforms.
FLUID is expected to complete its build on Polygon by the third quarter of this year. Overall, this is great news for anyone that uses the network.
Source: https://blockonomi.com/fluid-partners-with-polygon-for-higher-speeds-ultra-low-transaction-fees/