By ZyCrypto - 2 years ago - Reading Time: 2 minutes
Flurry Finance Set To deploy Utility And Governance Tokens On The Polygon Network
Cross-chain DeFi yield farming protocol Flurry Finance is launching its utility token RHO and its governance token FLURRY on the Polygon Network come December 1st, 2021.
Polygon Network is a protocol and a framework for building, aggregating scalable solutions, and connecting Ethereum-compatible blockchain networks, thereby supporting a multi-chain Ethereum ecosystem.
Earlier in August, Flurry Finance partnered with Polygon to optimize cross-chain yield farming. This partnership led to the mainnet launch on the Ethereum (ETH) and Binance Smart Chain (BSC) networks. It also led to a product launched on the BSC network and gathered $3 million in total value locked (TVL) within a month of the launch among many others.
Following the successful expansion to polygon, Flurry protocol automates the tedious task of switching in and out of DeFi products on different chains to generate yield with users’ deposits. In return, the user will get RHO tokens and FLURRY governance tokens.
These tokens could either be rhoUSDC, rhoUSDT, or rhoBUSD which users can hold, trade and spend as a medium of exchange while earning interest. Currently exclusively available on Binance smart chain, the tokens will be made available to all Polygon users by December 1st, 2021.
Flurry Finance is aimed at bringing DeFi to the hands of everyone on the planet, with a simple user interface, optimized yield strategies, and lower gas fees. The action of expanding to Polygon will bring more yield farming as well as expand the footprints of Flurry Finance in the DeFi space.
The CEO of Flurry Finance, Mike Ting said,
“It is an honor for us to bring a simple, easy-to-use, and automated yield farming interface to the Polygon community. The advantages that Polygon Network brings will take us a step closer to achieving one of our first mottoes – DeFi for all. We have been anticipating this deployment since we announced the partnership this August.”
Flurry Finance launched its governance token FLURRY on BSC and ETH Networks earlier. This token has significantly gained acceptance and has since been expanding in the flurry ecosystem.
Flurry is also launching a new staking reward campaign, called the Snowball, to further encourage and motivate its users. While Flurry is targeting to work cross-chain in order to look for the best yield with transaction fees fully considered, CertiK, blockchain security, and smart contract auditing firm has successfully audited Flurry’s smart contracts.
This successful audit is a step ahead for Rho token holders to enjoy secured and fast transactions with low fees within the larger Polygon DeFi ecosystem.
Original source: ZyCrypto