My experience on the PolyZap Platform on Polygon.
What is PolyZap?
Polyzap is a yield farming and staking platform, very similar to PanCake Swap and Cubfinance. Except it's not on Binance Smart Chain, it's on Polygon chain, and its purpose is to solve the speed of transactions issue on Ethereum, along with solve the issue of the cost of gas fees. The URL for the PolyZap site and referral link
What is Polygon?
Polygon is a second layer solution on Ethereum, similar to how Leofinance is a second layer token on Hive, only Leofinance is on the Hive-Engine chain (side-chain). The Polygon token is Matic, and the Leofinance Token is Leo.
Why would you want to trade there?
Traders and Investors left Ethereum based applications due to slow transaction times and high transaction fees. Many traders and investors went to BSC, also known as Binance Smart Chain.
BSC features fast transaction times and low transaction fees.
But there are many second layer solutions on Ethereum, which are coming online now and they are attracting attention because of the traditional security provided by Ethereum. Polygon is one such solution which boasts increased investor security. PolyZap for example has three security audits, two completed and one pending from Certik.
The URL for the PolyZap site and referral link
My experience setting up and providing liquidity on PolyZap, on Polygon.
Preparation for using metamask wallet,
I created an instance of a Matic Network on my Metamask wallet, if you have never done this, here is a link to documents on matic website to help you; Link
I navigated to Matic wallet URL to create a Matic Network wallet link
I connect my Metamask wallet to the Matic wallet platform / webpage. I used the Matic Bridge on the Matic wallet site to send funds from my ethereum Metamask wallet to the matic wallet.
I then sent 50 dai from my metamask ethereum mainnet to my matic wallet. I bought 1 Matic token.
That three steps, but now it's done and I can start farming and I won’t have to repeat those steps again.
My experience on the Polyzap Platform Webpage
I found the url for platform and navigated to Polyzap Link
I connect my metamask wallet to the site.
I connect my matic wallet to my metamask wallet.
I connected my metamask wallet to Polyzap.
I decided to provide liquidity for the PZAP-USDC pair, currently paying 793% APR in PZAP token, current token price $6.37.
#First I went to Swap/Exchange
I swapped 20 dai for 2.97 PZAP
I swapped 20 dai for 19.97 USDC
I approved the transaction on metamask.
I checked etherscan and transaction was successful.
#Second, I went to Liquidity
I selected Polyzap-USDC trading pair to add liquidity to
I added 2.9 Polyzap and 19 USDC
I then clicked add PZAP, gave permission for my wallet to spend my PZAP, then added USDC, clicked add .
I checked etherscan and transaction was successful.
I checked the etherscan and transaction was successful.
#Third, I went to Farms,
I selected PZAP-USDC Farm
I checked add LP tokens
I clicked Max
I clicked add LP tokens
I approved the metamask transaction.
I checked the etherscan and transaction was successful.
Viola it's done, and I am Farming on Polyzap Platform.
I will let you know how this investment does.
Anyone else farming on Polyzap?
How was your experience?
Let me know below in the comments!
PolyZap Link
Polyzap Link
Shortsegments is a writer focused on cryptocurrency, the blockchain, non-fungible digital tokens or NFTs, and decentralized finance.
Read more of shortsegments articles here: https://leofinance.io/@shortsegments
References for further reading on Polygon
The Importance of Polygon (MATIC) to Ethereum — LeoFinance LINK
Trending polygon posts — LeoFinance LINK
Polygon (MATIC NETWORK) LINK
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Posted Using LeoFinance Beta
Not farming there yet, but I've been reading a lot of articles on that so I might check it out
Posted Using LeoFinance Beta
It was a familiar graphic interface, looks a lot like Pancake Swap. Very easy to use.
Posted Using LeoFinance Beta
Hey
What do you use for fees on the polygon network?
Matic
Posted Using LeoFinance Beta
Matic token, an ERC-20 token.
I got them here https://wallet.matic.network/
Posted Using LeoFinance Beta
I hope it's safe there.. Just entered pool of pzap-usdc. cheers
Posted Using LeoFinance Beta
Hi
Me too !
Cheers!
Posted Using LeoFinance Beta
Good luck, the APR looks astounding and two contract audits already is wonderful!
Posted Using LeoFinance Beta
Is there any reason why you choose Polyzap? I like Cub Finance because of the team behind it and I know its not a rug pull.
Posted Using LeoFinance Beta
I saw a video by CryptoWendyO on this one too. It sounds like a good project.
Posted Using LeoFinance Beta
I watched a YouTube video about it, and then a video about Matic, so I went there to check the rates. You are wise to be cautious about rug pulls. So I checked out the audits.
Posted Using LeoFinance Beta
Thank you for the shout out!
I am glad you tried PZAP!
Don’t forget to get some Matic!
Posted Using LeoFinance Beta
Ha Ha !
I remember you said your a Matic Fanatic!
Posted Using LeoFinance Beta
Your right
Posted Using LeoFinance Beta
with the current Flash loan attack in BSC, i definitely will put a part of my portfolio in Polygon.
Why? High APY/APR and better security (i hope)
Posted Using LeoFinance Beta
So far the crypto media has been saying security there is very good.
Posted Using LeoFinance Beta
Diversification is a good idea!
Posted Using LeoFinance Beta
Thank you for the walk through of this project. You were very detailed and that’s appreciated by those who are learning.
Posted Using LeoFinance Beta
Your welcome.
Posted Using LeoFinance Beta
https://labs.leofinance.io/@trulydivinehl/the-importance-of...
https://leofinance.io/trending/polygon
https://leofinance.io/@aco5/polygon-matic-network