Polygon is the first meticulously structured and easy-to-use platform for Ethereum infrastructure development and scaling, ensuring cheaper transaction costs and faster block time that translates into an improved user experience in the DeFi sector.
Credefi is one of the fist movers in the blockchain ecosystem connecting crypto lenders with SME borrowers from the fiat economy, so the adoption of Polygon’s technology will allow Credefi to expand its user base beyond Ethereum, to the vast public, in need of reliable solutions to make investor capital profitable, without the risk of network congestion or high transaction fees.
With its hybrid suite that combines the best practices of DeFi and traditional finance ,Credefi was in need of a robust technology that allows rapid development of new functionalities, which solve real-life problems and eliminates the inefficiencies of the conventional banking and financial sector.
For this reason Credefi will integrate Polygon’s technology in its platform, natively built on Ethereum to provide greater functionality to the applications and services offered to both lenders and borrowers. This will allow lenders to efficiently lend to credit portfolios, individual credits or do trade financing from their wallets at the best cost/speed ratio of the blockchain ecosystem.
Polygon has one of the most vibrant and dynamic ecosystems of decentralized applications (dApp) deployed on its Polygon core network, with some key players in the DeFi industry such as Aave, Curve, Pool Together benefitting from Polygon’s secure and reliable scaling technology.
Credifi users will be able to take advantage of Polygon’s full stack scaling solution through the bridge provided for $CREDI token holders that allows them to minimize transaction fees while transacting with the platform’s native token to access the full range of services offered by Credefi.
Regarding the adoption of Polygon technology, Igo Grigorov, CEO of Credefi pointed out that
“Credefi is one of the first to provide a hybrid model that brings together the best of traditional finance and the DeFi sector, bringing together in one platform crypto lenders with SME borrowers from the fiat economy.
However, to achieve this challenge it is necessary to have a highly scalable solution like the one offered by Polygon, so for us it is very exciting to have the integration of Polygon’s full stack scaling solution for next month”.
Sandeep Nailwal, Co-Founder of Polygon stated:
“We are happy to help Credifi deploy on Polygon and to assist their team as they accelerate the development of DeFi applications on our network. Credifi is called to be a key player within the wide range of decentralized finance services in the blockchain ecosystem ”.
Credifi Is a first mover in the DeFi space connecting crypto lenders and SME borrowers from the real economy. Credefi has designed a system that allows to lend and borrow money on a decentralized platform in a secured way, protecting lenders while providing them fixed APY at the same time.
The platform aims to almost completely mitigate the risk that everyone accepts when making an investment, with the best risk / reward ratio in the DeFi sector combined with a three-layer security module, offering users the means and new opportunities to make informed investment decisions.
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 scaling solutions have seen widespread adoption with 500+ Dapps, ~567M+ txns, and ~6M+ daily txns.
Credefi connects crypto lenders with SME borrowers from the fiat economy. The protocol resolves the key challenges that DeFi and TradFi are facing today: DeFi’s inconsistent, fragile yields that evaporate in bear markets and speculative borrowers that are fickle and cannot satisfy DeFi lending supply; as well as the difficulty for SMEs to get TradFi funding at normal interest rates.