AscendEX, a leading cryptocurrency trading platform, is excited to celebrate Polygon (Curve) yield farming on its staking portal by offering an increased annual percentage rate for active participants. For a limited time, AscendEX users will earn extra returns while yield farming with Polygon for any accounts under $10,000 worth of USD Coin (USDC).
AscendEX originally announced the launch of yield farming with the Polygon stablecoin in July. Starting this week, users can deposit their USDC into Polygon decentralized finance yield farming and receive interest paid in USDC, Polygon (MATIC) and Curve DAO (CRV), earning an annual percentage yield of up to 20% with a 10% bonus from Sept. 1 to 7. In addition, by farming on AscendEX, users enjoy the benefits of zero gas fees and a seamless farming experience by offering a simple “one-click” solution.
Yield farming explained
Yield farming can be a resource-intensive process where a user allocates capital to a supported DeFi protocol and is rewarded for their liquidity contribution. The rewards are granted to the user in various tokens, depending on the operating DeFi protocols.
Right now, one of the easiest ways to participate in yield farming is through AscendEX. The AscendEX team handles all back-end integration and removes the technical hurdles associated with DeFi protocols, allowing users to simply click and farm using high-quality tokens and enjoy a timely yield distribution mechanism with no predetermined lock-up period.
Polygon and the Ethereum blockchain
Most current DeFi applications, including Polygon’s, are built on Ethereum, the world’s second-largest digital asset blockchain. Ethereum is unique because its blockchain makes it easier to create different decentralized applications beyond simple transactions.
Polygon and DeFi yield farming
Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. Aggregating scalable solutions and supporting a multichain Ethereum ecosystem, Polygon combines the best of Ethereum and sovereign blockchains into a full-fledged multichain system.
Polygon solves pain points associated with blockchains such as high gas fees and slow speeds without sacrificing security. In celebration of the Polygon project, AscendEX users will now be able to participate in Polygon DeFi yield farming with up to a 30% APR from Sept. 1 to 7.
Users can start yield farming Polygon here.