Polygon Network Raises $100 Million to Support Growing DeFi Adoption

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Ethereum scaling project Polygon recently launched a fund aimed towards making decentralized finance (DeFi) more accessible to end-users. Dubbed “#DeFiforAll”, the fund will look to integrate users to decentralized products and platforms. The funding, which will be facilitated through Matic coins, will come from the Polygon’s network and be deployed over the next several years. Without a doubt, the DeFi space has grown at an exponential rate in the past year. When the fledgling industry first gained traction in the summer of 2020, its total value locked (TVL) was barely at $1 billion. Now, with protocols such as Polkadot and UniSwap more popular than ever before, the figure sits closer to $65 billion. Ethereum’s Sky-High Gas Fees a Blessing in Disguise for Polygon But Defi’s success hasn’t come without hefty costs. With the Ethereum network more congested than ever, transactions fees have shot up. According to YCharts, Ethereum’s average gas…

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