Polis Enters the DeFi Space, Launching Smartchain, DEX and BSC Bridge
Press Release: Polis is launching its first-ever blockchain, PolisChain, allowing users to benefit from its purpose-built DEX and Yield Farming.
November 15th, 2021, Mexico City, Mexico – Polis, the project behind decentralized payments platform PolisPay, is announcing the launch of PolisChain, its first native blockchain to power the Polis ecosystem, which includes the Olympus network.
The new chain represents a significant move for the ecosystem, signalling the project’s ambition to increase adoption with a particular focus on the fast-growing decentralized finance (DeFi) space.
Coinciding with this announcement, the team behind Polis has also launched a dedicated decentralized exchange (DEX) for the PolisChain called HadesSwap. HadesSwap allows users in the Polis ecosystem to exchange the ecosystem’s tokens without the need for a centralized exchange, as well as stake Polis and other crypto-assets for returns.
Currently, HadesSwap supports DAI, SOUL, BTCB, ETH and CAKE, and is compatible with popular decentralized wallet Metamask. HadesSwap also features a Binance Smart Chain (BSC) bridge for assets BTCB, ETH, CAKE and DAI.
Speaking about the launch, PolisChain’s business DAO manager, Andreas Meyer, said:
“In the long term, the Polis Chain team will focus on payment tools, merchant connections and online stores, creating a smart chain for fast payments and decentralized applications”
Towards DeFi and Beyond
In addition to developing a new DeFi offering, Polis have been focussed on developing several new features for their gowing ecosystem. This includes the recent addition of Polis to Meter.io which connects PolisChain to BSC, supporting a bridge for BTCB, ETH, CAKE and DAI on both networks.
Meter.io is a highly decentralized Ethereum scaling solution with a built-in metastable gas currency. It connects to Ethereum and other blockchains as a layer-two protocol and allows smart contracts to scale and communicate seamlessly through heterogeneous blockchain networks.
Read more about Meter.io here.
Moreover, in October 2021, the Polis team released Polis Block Slasher, a free-to-play game that allows players to win Polis, a feature that incentivises the wider ecosystem’s adoption. The game is randomized according to each player’s wallet address, with the chance to win up to 400 Polis (worth just over $100 at current market rates) if they secure a ranked position by November 30th.
Find out more about Polis’ Block Slasher game here.
Polis is the main asset on the Olympus Network. It allows users to pay for transaction fees, as well as transferring value stored in Polis within the network. Polis Chain is EVM-compatible, meaning developers can build applications that make use of smart contract technology.
The network started as a fork of popular payment platform DASH, adopting its own Proof-of-Stake rules in 2018. Moreover, Polis is governed by a decentralized autonomous organization (DAO) which elects five managers responsible for the ecosystem’s operation. All Polis members are able to vote for each of the positions as well as put forward and vote for specific proposals pertaining to the ecosystem’s future.
At its core, Polis has adopted a community driven approach to creating new technology for the purpose of promoting widespread cryptocurrency and decentralized ledger adoption.
For more information on how Polis is using its own native blockchain to revolutionize DeFi, visit their website here.
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POLIS is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
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