The first big steps to full integration of the Polygon chain on Koala Defi are almost here.
In this blog we will give a brief explanation how Polygon will be integrated in the Koala Defi platform and what the benefits will be for the platform and you, our investors.
Bridging Nalis to Polygon means there will be exclusive Nalis farms available on Koala Defi with lower gasfees and fast transactions. Launching Koala Defi on Polygon will open up Koala Defi to a whole new group of investors.
Innovation: Koala Defi will build our own bridge
After a lot of consideration Koala Defi has decided to build our own secure bridge to first bring Nalis to the Polygon chain and later Lyptus. A bridge is a smart contract used to swap tokens between different smart chains, for example from the BSC chain to the Polygon chain.
Building our own bridge is an extensive task and will take time, but it will bring a lot of benefits to the Koala Defi platform.
Not only will Koala Defi be in full control of the security of the smart contracts used to bridge tokens, we will also be in full control of the swapping fees and conditions instead of a third party. To remain fully decentralized and guarantee safety and security Koala Defi believes it’s essential to build our own bridge. In a later stage we plan to open the services of the Koala Defi bridge to partner tokens.
Koala Defi integration on Polygon
Of course building a secure bridge will take some time, in order to start Nalis yieldfarming on the Polygon chain in the second week of August, we have decided to create a temporary solution to get started on the Polygon chain and swap your Nalis tokens from the BSC to the Polygon chain.
Nalis on Polygon will have the same tokenomics as Nalis on the BSC chain but will start with fresh high APRs in the farms and pools.
At the launch of the Polygon Nalis farms, we will boost the APRs on the BSC chain to create a fair balance between both chains.
To get started on Polygon there will be a 48 hour max 1:1 Nalis swap before the launch of the yieldfarms on Polygon.
This means you will have 48 hours to swap your BSC Nalis tokens to Polygon Nalis tokens to get started with Polygon Yieldfarming at the launch of Koala Defi Polygon in a 1:1 ratio.
To make it possible to swap Nalis tokens from the BSC chain to the Polygon chain before our own bridge is done, we will use the services of AnySwap for 48 hours.
We will post a blog about this process when the time is ready. The swapping process will be very easy and 100% safe.
To make it possible to swap Nalis tokens from BSC to Polygon 400,000 Nalis on Polygon will be minted to add first liquidity and to be swapped 1:1 for Anyswap Nalis. The swap will end when all 400,000 tokens have been swapped or 48 hours have passed. The remaining Polygon Nalis tokens will be burned.
The benefits of Polygon cross chain integration
Bridging Nalis to Polygon means there will be exclusive Nalis farms available on Koala Defi with lower gas fees and fast transactions. Launching Koala Defi on Polygon will open up Koala Defi to a whole new group of investors.
There will be exclusive Nalis farms and pools to earn Nalis on the Polygon chain. One of the advantages of yieldfarming on the Polygon chain are the very low gas fees for fast transactions, usually under $0,001.
Unlike BSC, Polygon is completely decentralized and continuously in development. Because of the compatibility with the Ethereum fork chain it is very easy to duplicate and convert BSC smart contracts to Polygon which makes it the perfect chain to add to Koala Defi. Because Polygon is still relatively young, it grows rapidly and offers huge future potential. 📈
What is the benefit of going crosschain?
Going cross chain makes a Defi project no longer reliable on a single blockchain and offers a great way to spread your investments across multiple chains that each have their own benefits while maintaining the same high safety and security standards for your investment. 🛡