Teller Finance, an unsecured lending agreement for the DeFi market, has officially deployed its mainnet on Polygon, marking an important milestone in its quest to provide scalable and user-friendly solutions.
The company revealed on Tuesday that with the launch of Teller’s Polygon mainnet, users can immediately start depositing and funding the liquidity pool. The Teller protocol continues to be available for Ethereum (Ethereum) Mainnet.
Teller’s Polygon deployment is part of a broader strategy that aims to expand the mainstream appeal of digital assets without the bottlenecks of slow transaction speeds and high fees. Teller’s CEO Ryan Berkun attributed the success of DeFi to Ethereum, but also pointed out the urgent need to address some of the shortcomings of the network. He explained:
“The teller wants to keep the blockchain agnostic, [Ethereum Virtual Machine] Compatible, but solving Ethereum’s instant network problems is vital to our mission […] Ethereum scaling solutions like Polygon allow projects like ours to quickly port Ethereum solutions to a scalable network, thus addressing many of our concerns about the increase in network costs and gas bills. “
As part of the Polygon port, Teller has migrated 2,200 NFTs worth more than $15 million to Polygon. In March, the sales of these so-called fortune-telling NFTs generated 5,096 ETH from more than 1,300 independent buyers.
The NFT market has reached a truly epic scale in recent months, with investors spending millions of dollars to buy CryptoPunk CollectionThe latest craze seems to be the pet rock NFT, at least one EtherRock sells for 45 ETH, which is worth about $139,000 at the time of writing.Currently, the The most expensive EtherRock goes public for a staggering $1.9 billion.