KingDeFi, the powerful analytics tools & AI yield optimizer platform, has officially launched on Polygon and activated Polygon Farms.
KingDeFi is now on Polygon
As stated in the roadmap, KingDeFi has taken the next step in their development by launching on Polygon. With this launch, KingDeFi becomes the first Multi Chain Yield Aggregator to cross-chain 7 different blockchains (Polygon, Heco, Solana, Ethereum, Binance Smart Chain, Avalanche, Celo) while maintaining circulating and total supply and using a multi-programming language approach across Solidity, Rust, Haskell, and C++ in order to continue expanding to other chains in the near future.
KingDeFi Multi-chain Bridge
KingDeFi has bridged the multi-chain and made themselves cross-chain on 7 different blockchains in order to optimize the best approach for KingDeFi holders and the underlying token economics. Bridges, which allow tokens to flow from one chain to another, are crucial because they allow projects to move across multiple chains without having to issue a new token on a different mainnet (e.g. from BSC to ETH). You will always have only one token, one project, and one supply with this method, but it will be distributed across multiple chains.
When it comes to cross-chain, one of the most common issues that many projects face is token economic inconsistency. Instead of using a bridge, they usually issue a new token without fully educating investors. As a result, the two tokens issued on two different chains have strong arbitrage and inflation effects.
KingDeFi created multi-chain bridges with the goal of going multi-chain with a fixed supply amount and only one token emission as the best way to digest circulating supply. Rather than a continuous multi-chain burning process, investors can now simply split their limited token supply across multiple chains to increase buy pressure.
This multi-chain bridges solution will help investors and the project manage mainnet concentration risks and find new tech opportunities in the blockchain markets, as well as improve portfolio diversification.
Polygon Farms and Polygon Main Dashboard are now live on KingDeFi
KingDeFi has also joined Polygon and recently launched the Polygon Main Dashboard on its platform.
Users will be able to track the Total Locked Value (TVL) and growth of Polygon’s DeFi projects, as well as perform on-chain ratio analysis, check historical performance, and discover new projects. Polygon farms are now available on KingDeFi.
KingDeFi now allows its users to get a variety of multi-chain farming options and earn through their platform, as well as farm with auto-compounding and monitor the market, thanks to multi-chain bridges.
Auto-compounding:
KingDeFi’s auto-compounding feature works differently than others as the contract compounds at every interaction. This means that each time someone deposits, harvests, or withdraws, the compounding kicks in automatically.
The invested capital is kept separate from the accrued interest as it gives users the option to harvest only the interest amount if they like. The amount of accrued interest continues to be considered for auto-compounding and users get the chance to avoid paying unnecessary fees.
Users get a chance to stake various LPs and earn tokens other than KRW too. The performance APY and APR of KingDeFi will also be much higher than its competitors while the overall fees charged would be much lesser.
KingDeFi single vault auto-compounding mechanism is already live for his main native farm, the team is going to expand this new compounding model across several LPs, and also apply this to non-native Krown farms.
Market monitoring: Through all yield optimizer projects, the platform also assists users in locating the highest-yielding and most consistent pools.
Conclusion
KingDeFi has been successful in delivering on its roadmap and has a lot planned for the future. The platform intends to launch a double rewards farm, a portfolio tracking option, and expand to other chains in the near future.
Source : bscdaily
