Precog Finance Adds Polygon Integration
This Allows its DeFi dApp to Make Investments and Withdrawals Using the Polygon Network
In a time where crypto adoption reaches new heights every day, and increased usage causes network congestion on Ethereum, many users feel left out due to the resulting gas fees that may come across as excessive for the average person. As such, projects utilize Layer-2 scaling solutions for Ethereum such as Polygon in order to lower the barrier of entry, and improve the usability and reach of their product.
What this means for Precog Finance
Adding Polygon support means that users will be able to use the Precog Finance trading algorithm using the Polygon chain and its native gas token MATIC for investments and withdrawals, while still maintaining access to all of Precog Finance’s features!
The algorithm will still be able to make trades as it usually would, and with Polygon, users wouldn’t need to pay tens of dollars in gas fees for their deposits when using the Ethereum network. In fact, transactions on Polygon only cost pennies, and are far faster thanks to a higher TPS and a block confirmation time of less than two seconds.
This opens up Precog Finance to a wider audience of traders who want to be at the forefront of DeFi, without having to bear the heavy transaction costs of a network that is in dire need of scalability. Luckily, Polygon provides that very scalability without any drawbacks, allowing users to experience the Ethereum network for a fraction of the costs.
What is Polygon?
Polygon is a Layer-2 scaling solution for Ethereum, and a protocol and framework for building and connecting Ethereum-compatible blockchain networks. It not only solves some of the problems the Ethereum network faces such as high gas fees and slow speeds, but does so while actually fully benefiting from Ethereum’s network effects. Polygon also doesn’t sacrifice any security, and on account of its structure, is actually more secure, open and powerful than its counterparts.
What is Precog Finance?
Precog Finance is a new decentralized ecosystem that automates trading arbitrage profits of crypto assets and crypto derivatives via various advanced AI-assisted strategies in our innovative trade engine. We trade actively on a large and growing number of centralized and decentralized exchanges and other platforms to take advantage of pricing inefficiencies in the spot and derivative cryptocurrency markets.
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