EmiSwap and Polygon (MATIC/USD) blockchain, the leading platform for Ethereum (ETH/USD) scaling and infrastructure development, announced an integration to reduce transaction costs without compromising output, Invezz learned from a press release.
The integration will make it possible to pool liquidity utilizing Polygon’s full-stack layer 2 scaling solutions and allow users to execute trades instantly using the EmiSwap interface.
Users staking tokens in EmiSwap will earn returns for amounts held
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The integration offers the EmiSwap community several advantages, such as the one-year 365 percent APR airdrop for liquidity providers. Users staking tokens in the DEX’s liquidity pools will earn a one percent return for the held amount.
In exchange for providing liquidity for a period of two months, users will get 60 percent. As the amount in the pool increases, the reward amount grows correspondingly. The APR campaign will run until October 3 of next year.
Grigory Rybalchenko, founder and CEO of EmiSwap, said:
We are delighted to be working with Polygon to bring their scalability solutions to the market, as it enables new innovative and value-adding services for our users. Now, EmiSwap users will have the option to swap and provide liquidity on EmiSwap DEX with fast and nearly free transactions due to the Polygon integration. This is the next phase in the development of a multichain decentralized platform that will allow us to provide additional value to the DeFi market and our community.
Liquidity suppliers earn fee of 0.25% of the pool’s trading volume
In addition, liquidity suppliers will earn 0.25 percent of the pool’s trading volume as a fee for their service. Starting November 10, EmiSwap will launch Polygon Farming pools. Users now have access to migrate liquidity from QuickSwap. The pairs available to this end are WETH-WBTC, USDC-USDT, WETH-USDC, WETH-WMATIC, and WMATIC-USDT.
Doing away with high gas and transaction fees
Presently, the Ethereum network hosts the bulk of EmiSwap activity, but the high gas and transaction rates make it a poor option. A single transaction still costs anywhere from $25 to $250. The new integration with Polygon will make ETH much more viable with a 0.001 MATIC gas fee.
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