A Quick Look at the Highly Anticipated DeFi Protocols in the Polygon Ecosystem
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A Quick Look at the Highly Anticipated DeFi Protocols in the Polygon Ecosystem
This article introduces you to unique and innovative protocols built on Polygon.
Navigating Web3 tides with focused insightsAuthor: Asif Khan
Compiled by: TechFlow
Why do I believe Polygon will become the hub of DeFi innovation over the next 2–3 months? While everyone focuses on narratives, builders have been quietly solving real problems. This article introduces you to unique and novel protocols being built on Polygon.
1. TimeswapLabs
TimeswapLabs is the first fully decentralized AMM-based lending protocol, offering:
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Oracle-free lending
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Non-liquidatable loans
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Market-driven lending
Finally, long-tail assets can be lent without exposure to oracle-based attack risks.
2. Mantis Swap
Mantis Swap is a novel single-sided AMM designed for trading pegged assets. It promises better execution than Curve or even Uniswap V3 during certain liquidations. MantisSwap introduces three key features:
- Single-sided liquidity provision
- Shared liquidity mechanism
- Reduced impermanent loss
3. SynFutures
SynFutures is a decentralized derivatives platform and a true dark horse in DeFi. Though rarely discussed on crypto Twitter, they have quietly achieved over $1.7 billion in trading volume.
4. Bob
Bob is a multi-chain, multi-collateralized stablecoin with optional privacy features enhanced.
Privacy-enabled stablecoins are essential for building a robust cryptocurrency payment system. You don’t want vendors to see your entire transaction history. This is also an issue when applying for or disbursing grants, salaries, etc. The team is already establishing partnerships with various payment providers to drive organic usage of the stablecoin.
5. Tetu
Tetu is a high-quality team aiming to build the most sophisticated yield strategy vault. They’ve been building steadily for the past 1.5 years and are the true spiritual successors to Yearn Finance.
6. Synquote
Synquote aims to bring the most liquid and price-efficient options to DeFi—a truly on-chain options protocol.
The protocol uses an RFQ (Request-for-Quote) architecture where market makers fulfill user orders. Option collateral on-chain is fully backed.
7. Mangrove DAO
Mangrove DAO is a next-generation DeFi primitive that has already soft-launched on Polygon.
It is an order-book-based DEX that allows liquidity providers to post arbitrary smart contracts as quotes. This new flexibility enables LPs to post under-collateralized offers.
Mangrove promises that liquidity can:
- Be simultaneously shared, borrowed, and lent out;
- Appear on Mangrove’s order book only when a quote is active, ready to be tapped at any time.
8. Polymarket
Polymarket may be the most interesting prediction market application in the space. It has shown healthy trading volume throughout 2022 and continues to create the most intriguing betting markets.
9. Vi
Vi is a pioneer in dynamic risk frameworks for lending markets. Its v2 promises dynamic interest rate curves based on evolving DeFi market liquidation dynamics—an essential improvement that could help prevent events like the recent Avi-Aave-Curve market attacks.
10. And of course, GainsNetwork cannot be missed:
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The OG perpetual protocol in DeFi
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The team has been building for nearly two years
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Has already achieved over $22 billion in trading volume
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Market leader in AMM risk management, likely ahead by 1–2 years
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Current pioneer in on-chain forex
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