How User Friendly Polygon (Matic) DeFi Ecosystem is Today?

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Written by

FajarPurnama

Interested in Freedom of Everything and Censorship Resistance.

3 years ago

Topics: Cryptocurrency, Defi, Decentralized Finance, Matic, Polygon, ...

While Avalanche C-Chain used to be complicated, the Polygon (Matic) network used to be initially expensive. Actually it is not the Polygon network that is expensive but the Ethereum network where we used to have to bridge the assets ourselves using Plasma Bridge from Etherum to Matic network with average cost through out the year is $50 per transaction. However, Polygon today is cheap and simple just like Binance Smart Chain.

Many Mobile Wallets Automatically Support Polygon Network

I will repeat this writing many times that Metamask remains the prefered wallet for experienced users but not for beginner and potentially new users because the requirement of setup the network manually. Users have to find the network configuration information on the web and explore the advanced feature of adding custom network on Metamask. From my experience, users who are less literate in computers are too lazy to figure this out which results in the lost of potential customers on the decentralized finance (DeFi) ecosystem.

The DeFi networks should automatically be available where users should only need to switch back and forth. Polygon network being supported on Trust Wallet Mobile was one of the initial steps for attracting more users. Today, Polygon network is supported on many wallets such as Coinbase Wallet and Safepal.

Many Exchanges Support Polygon Network Deposit and Withdrawal

It is a give that deposit and withdrawal to Polygon network is supported on the top 2 global cryptocurrency exchanges Binance and Kucoin. One of my local exchange Tokocrypto supports direct deposit and withdrawal as well. Here is another one that unexpectedly supports Polygon network, crypto.com exchange.

Portfolio Generator or Tracker that Supports Polygon Network

As we trade many assets and farm in many places, we need to keep track of them and generate a portfolio. Everything in the open cryptocurrency is actually open and transparent but only recently developers created tools to describe the information into a beautiful portfolio. Of them all that impresses me the most are portfolios that can be shared just by sharing a link where here are examples of my portfolio from https://debank.com/profile/0x9cbd20f35e039499fbe203c69c834d35b538c5c0, http://apeboard.finance/dashboard/0x9cbd20f35e039499fbe203c69c834d35b538c5c0, https://zapper.fi/account/0x9cbd20f35e039499fbe203c69c834d35b538c5c0, and there is also APY Vision but needs to hold its token to use.

Trading View for Polygon Assets

Today even DEX Guru and Chartex supports trading tools for Polygon assets. Before those, the first trading tool for Polygon assets is Quick Chart solely dedicated for the Matic network. From its social media may seem that currently only consists a few developers or even one man army but because of that I think is a good chance to invest before it grows big just like Yeti Swap where back then was only like 10 chats a day in its Telegram group, and now is over 200 chats daily which ofcourse I am in massive profit. Other than it already have a working product which is trading view for Polygon assets, Quick Chart seems to be heading to similar direction to Poo Coin App where holding the token / subscribing will receive benefits of no ads, make advertisements on their page, and access to exclusive information. There is another one called Polysafu but their Twitter seemed to be inactive since June 2021.