A very amazing polygon defi.

Hello everyone...

Today we have all witnessed the huge success of polygon Matic, a second layer project that has attracted a lot of attention from crypto users and although polygon Matic has many very useful functions, what has caught everyone's attention is its great speed in processing transactions and its low cost (even much lower than BSC) and it is also an excellent bridge between ethereum and BSC.

As we know the biggest problem of ethereum is that it is very expensive to make transactions in that blockchain since the gas rates reached up to $40, now with Polygon there is the possibility of having cheaper transactions, well that attracted a lot of attention.

But in addition to speed and economy in making transactions, polygon also has the function of developing many projects, among them the defi.

This morning I was looking for another BSC defi to invest in because besides Cub defi I want to diversify and see what other advantages the other BSC defi offer, so I went to DappRadar to see the rankings of the best defi and among other things, I found that the dappradar list had 1 polygon-based defi: PolyCatFi which had some amazing numbers.

The first thing I noticed is that it had a daily volume of 9850 users and a 7-day volume of 15647 users, it also has a 24-hour trading volume of $65,539 and a 7-day trading volume of $368,320. And the total incoming value to dapp smart contracts is $8.15 million and in 7 days $70.12 million, and lastly a very incredible LTV of over $240 million.

What is Polycatfi?

Polycat Finance has a unique burning mechanism with a "Burning vault" where deposit fees are staked and 100% of its yields are used to buyback and burn their native token, FISH. On top of this 5% of all the other vaults' earnings are used for the same purpose. With a 3 million max. supply cap (which is estimated to be reached in August 2021)
SOURCE

Is it safe?

PoliCatFy provides information on who and what they audited, the farms and pools have been audited by TechRate, the vaults have been audited by Obelisk.:

TechRate - smart contract audit: 615 contributions in the last year.

Obelisk - smart contract audit: This auditor has 37 contributions for this year.

At the moment it is a defi with an incredible annual return on investment, as it is very high and ranges from 580% to 600% on the farms (this varies a lot). Of course, this is because it has just been launched and in the following days, this APR will drop a lot, as it is mainly to attract investors.

Besides the farms, it has many other functions that also offers good returns, this Vaults where you can Auto-compounding your yields to grow your deposit, the Pools where you can Stake tokens to earn FISH this option also has incredible APR, and finally, this Fish Tanks where you can Stake FISH to earn other tokens (So far only available the option of betting FISH to earn GBTS (Gembites).

_{The option Fish Tanks, offers to apply for projects, so if anyone in leofinance is interested in applying for a project, you can do it CLICK HERE donde veras un documento de solicitud.}

THE FISH token

FISH is Polycatfi's native token, it currently has a value of $46, an MC of $52,405,950. A circulating supply of 1,120,592 FISH and a total supply of 3,000,000.

The chart shows us that on May 31 the FISH token had an ATH of $65.60, followed by a sharp drop of almost 50% but since yesterday it held key support above $43 and has now managed to reach $46 again without retracing.

You can buy it from SushiSwap, QuickSwap and Dfyn. Using this contract:

0x3a3Df212b7AA91Aa0402B9035b098891d276572B

In conclusion, Polycatfi is a very interesting defi, and although it is new and has attracted a lot of attention and investment, I hope it is not just another pull and rug, as it has a lot of potentials it can be at the same level as pancakeswap, and as polygon continues to attract more and more people I think polycatfi can surpass big and successful defi of Ethereum and BSC.

I plan to invest, but as I do not have much money I plan to do it little by little, currently, in my metamask wallet I have 0.002 MATIC which is more than enough to make transactions, I plan to buy FISH and bet on the FISH Pool, which at the moment has an APR of 312% and so will grow my investment to bet on farms which are my ultimate goal.

If you want to know more about this defi and see more in-depth all its functions you can click on the link:

https://polycat.finance/

I hope this information is useful for you...

Posted Using LeoFinance ^Beta