Polygon continues to be a considerable drive in DeFi. The protocol’s ease of use and decrease charges have been main attracts for builders, resulting in all kinds of latest initiatives coming to life on the platform.
Meanwhile, the parents over at Amun Tokens are engaged on DeFi index tokens left and proper. In June, the platform introduced the launch of two index tokens, $DFI and $DMX, engaged within the Ethereum ecosystem. Given Polygon’s elevated presence currently in DeFi, it was solely a matter of time earlier than the crew at Amun unleashed a Polygon-based token as effectively.
That time has come, as Amun introduced as we speak their newest token headed to pre-sale: PECO. This token appears to encapsulate the perfect and brightest initiatives being constructed on Polygon.
Amun, PECO, & The Polygon Ecosystem
Amun launched their Medium submit asserting PECO as we speak in collaboration with the Polygon Foundation and main Polygon initiatives. The Foundation is offering $5M in MATIC tokens to seed the index’s launch, in keeping with the Medium submit, and lots of main initiatives are offering seed capital for liquidity.
The token initially launches on October 19 and can begin with 50% MATIC till the community matures additional. Protocol tokens make up the remaining 50%; check out the preliminary PECO compensation on launch beneath:
As the Polygon community grows and develops, the PECO portfolio will likely be rebalanced month-to-month. PECO will likely be out there on each Polygon and Ethereum, and early contributors can earn as much as a further 30% bonus tokens within the pre-sale by way of airdrop.
Polygon (MATIC) has seen secure value motion in latest months, however has been slowly changing into a DeFi energy participant. | Source: MATIC-USD on TradingView.com
Related Reading | TA: Ethereum Is Primed For A Rally And Only One Thing Is Holding It Back
Amun & DeFi Growth
The Amun whitepaper cites the necessity for scalability in DeFi and appears to supply ERC-20 tokens that deal with an index of the highest DeFi tokens out there.
Earlier within the 12 months, Amun unleashed DeFi index token $DFI, aimed to present buyers publicity in “blue chip DeFi projects.” This allowed shoppers to come back to at least one token for a large publicity of DeFi’s greatest cash, with out incurring particular person swap prices. Additionally, Amun launched their DeFi Momentum Index, $DMX, which seeks to automate weights based mostly value momentum calculated by a relative power index. This index sought out momentum riders who “missed out on the last bull run.” Both indices had been initially composed of eight tokens per index.
Amun is constructing out a large breadth of DeFi publicity throughout what appears to be a perfect time. A Bank of America report this week cited DeFi’s progress and largely untapped potential, and Polygon and it’s subsequent platforms have been monumental progress drivers in DeFi.
Related Reading | Investors Expect Ethereum To Outgrow Bitcoin, According To CoinShares Survey
Featured picture from Medium.com/amun-tokens, Charts from TradingView.com
