If narratives run these crypto investment cycles,
then several narratives have dominated this bull run.
Think metaverse, tokens, doge coins and all.
Tell one solutions like Solana and Avalanche.
But the narrative standing strong in decentralized finance known as DFI,
is about layer two solutions, with Polygon leading the pack.
On today's COIN Market Cap episode, we take a deep dive into the top
Polygon projects.
My name is Jets, and here at COIN Market Cap
we are on a mission to make crypto accessible all around the world.
That's why we love making videos for you
that are packed with information are easy to understand.
And simple to share with your friends and family.
So if you want something more than just hype and to actually learn about crypto,
make sure to hit the subscribe button right now
and turn on notifications to not miss out on new videos.
And let's learn together top polygon projects.
First, let's clarify what's layered two is for a Layer one blockchain.
We can think of Ethereum as an operating system like Windows on top
of which developers can build decentralized applications known as Dapps
the problem is that ethereum can get slow and expensive.
That's because its consensus mechanism for securing the blockchain is based
on an auction model.
Users bid against one another
to have their transactions included in the next block.
That's why once a network gets too congested, fees skyrocket.
And that's how you end up with, say, a face value price of 20 bucks
to mint an NFT, but incurring an actual cost of 100 bucks in gas fees.
In other words,
would you pay $4 for a coffee if you also had to pay a transaction fee?
That was five times that?
Oh hell no.
I didn't think so either.
There's a chance you've heard of other layer two scaling solutions like arbitrage
and start where it starts.
So what makes Polygon stand out
from the rest of the major scaling and infrastructure development?
Solutions?
Well, Polygon is the first L2 solution with an actual Native Token Matic.
And why does that matter?
Because you can stick it to help
secure the network, all the while enjoying awesome rewards like low fees,
as well as being eligible for potential airdrops in the future.
Oh, and this does mean that some of these apps are available
on the Ethereum as well as on other chains.
The fact that they feature on Polygon with negligible fees
and insane speeds is why we choose to include them here.
Now, before we dive
in, I want to make it very clear that this is not a complete list.
There are more polygon projects that need to be highlighted, covered
and we will certainly do that in our future videos.
Jelly Swap.
Jelly Swap is a decentralized cross chain atomic swap service.
If that sounds like a mouthful, that's because it is,
but we can easily break that down.
For example, if you want to swap your ease for BTC now
because they live on two separate
chains, it's a bit cumbersome, so you might need to rely on a third party
like a centralized exchange to access the crypto market.
So think of a jelly swap as a dapp
that lets you trade your crypto assets across different layer
one chains, like between Alex on Avalanche and Avi on Ethereum.
Oh, and did I mention that you can do this near instantaneously?
And for pennies quick swap.
Quick Swap is a fork of uniswap the first and arguably the most popular
decentralized exchange or dex in existence since Polygon is a theory and virtual
machine or IDM compatible quick swap users enjoy the safety and security
afforded by the uniswap audit so why use quick swap over uniswap?
Well, quick swap features in IRC 20 token bridge.
The bridge lets you quickly bridge your tokens over to the polygon network.
That way you can enjoy low transaction fees and quick swaps
that only a layer two solution like Polygon can offer.
Like other DEX is quick swap uses in automated market maker
or am model, so it relies on liquidity pools.
As with uniswap, quick swap users can create their liquidity
pairs and start earning once they provide liquidity.
Quick is quick swaps, native governance, token opacity,
opacity or opacity is a file storage service,
but with one key difference privacy via decentralization,
you self custody your data and only you can access your files via
an encrypted handle, which functions like a private key.
This means that not even opacity can access your data,
but you can share any file with a friend at the click of a button
when you think about it,
sure, Polygon facilitates decentralized file storage on a theorem,
but that would be a limited view of polygons potential Ethereum
is a network that can get congested to the point that leaving opacity on layer
one would severely limit its use and ability to scale.
And this applies to all projects that require fast transactions.
Not bad Polygon. Mai Finance.
Have you ever wanted to borrow money and pay it back
minus the interest my finance is the first native stable
coin protocol on Polygon, and it does just that.
You deposit your crypto assets into a vault, then
you borrow against it in my stable coins and all you've got to do is pay a fee.
So if you've got ten BTC
and believe in its long term value, then you can borrow against it.
And now you've got ten BTC equivalence in my terms as liquid capital
without having to sell any of your BTC in per max
impairments is a decentralized protocol that enables indirect liquidity provision.
In doing so, it eliminates any risk of impermanent loss.
It's actually quite brilliant.
What's really happening
is that you're lending your tokens to actual liquidity providers.
This party borrows the tokens for liquidity mining
by using actual liquidity pools.
In other words,
the more risk tolerant party assumes all the risk of permanent loss.
But both parties engage in a mutually profitable arrangement.
Trade Gains Network is an ambitious team
aiming to launch the best DEFI trading suite in history.
The first product in its arsenal g
trade is a decentralized leverage trading platform.
Leverage trading is when you only have to put up a small amount of capital
to gain a ton of exposure on an asset.
This means that you command a market position of $50,000 of ease
with a leverage of 100 to one.
You would only need $500 in it to get started.
gTrade offers users a leverage of up to 150 x on crypto
assets and up to a thousand x on forex insane.
Due to its architecture, it claims to be at least 100 times
more capital efficient compared to competitors.
That's the icing on the cake Augur, originally built on a Ethereum
Augur, is the first decentralized prediction market in history.
This is by no means a small feat.
Traditionally, prediction markets had to be centralized.
We had to custody our assets and trust a central authority
to act as an honest actor and to not run off with our funds.
Yeah, sounded like a great idea.
Augur on Polygon is literally turbo charge Augur Turbo.
It's in the name C on a Ethereum Augur function.
By incentivizing reporters to report off
chain data accurately, they were rewarded for doing so
until consensus was achieved, thus confirming an off chain event.
Now, pretty much anyone can create
a prediction market super quick and for it's super cheap
and with channeling integration, the Oracle enables off chain data
to be fed on chain in a secure, accurate and timely fashion.
Idex, Idex is the first hybrid dex in existence as a hybrid solution.
IDEX operates based on both in AMP in order book model,
the latter being a stable of centralized exchanges.
It adopted this hybrid model because the team wanted to circumvent
all the shortcomings of a dex.
These shortcomings include slippage, fail trades and front running.
In the meantime, they also wanted to offer users a seamless experience
akin to those provided by centralized exchanges.
But using an order book model means that data must be up to date
and that trades must occur near real time.
Polygon can do just that, and it can ensure that all trades remain
as economical as possible of a gotcha.
You're old enough to remember the Tamagotchi Aavegotchi is basically
a new version of this amazing piece of nostalgia, but it's even better.
That's because the creators of Aavegotchi have gamified it
by incorporating elements of defi games so you can earn while you play.
And with all good things in life, you've got to wait for a haunt.
A haunt will let you get your hands on some portals and mint some RV watches.
The alternative is to pick one up on a secondary marketplace,
but that's not as fun.
By opening a portal ten of Aavegotchi's
revealed, only one of which you'll be able to select.
So choose wisely as the other nine are burned forever.
Release on Polygon Aavegotchi has one of the most active,
decentralized autonomous organizations or dows in existence.
Shocker.
I know it's run via GHC, its governance token decentral Games.
If you're in casinos and cards, then you'll love the play to earn
mechanics of Decentral games or DGY.
Poker is the first and only game that's currently available,
but it's literally free to play to earn F, to P to E, I can resist.
All you need in order to play
is to purchase nifty wearable and you'll get a seat on the table.
Can't afford your own.
Not a problem ala actually infinity.
You can borrow an f t wearable from a lender via
discord.
Every wearable you've got adds to how many chips you'll receive each day.
These chips are what you play with to earn and win price tokens.
You can also participate in governance voting by getting your hands
on some digg tokens.
And yes, these can be state too.
And that's it for our top polygon projects list.
Make sure to comment below your favorites and any ones that we may have missed.