Set Protocol integration on Polygon
In this guide, we will briefly cover the following to give you a quick primer on why we are excited about our integration and how you can use Set Protocol on Polygon!
- Overview of the launch
- How to use Set Protocol on Polygon
As always, if you have a fascinating product idea on Polygon that you think will be very successful, submit your idea here to get in touch with us!
Our launch article covers best the rationale behind deploying on Polygon, here is the excerpt:
"Polygon is an EVM-compatible scalability solution for Ethereum that allows us to further enable users access to the world of decentralized asset management at a fraction of the cost. Whether you are a beginner just wanting to dip your toes into TokenSets or an experienced portfolio manager that frequently trades, we heard you and listened. Our Polygon deployment will allow you to do so in a more efficient way by lowering the barrier to entry for all participants by significantly cheaper transaction fees and transaction times than L1.
With how easy it is to deploy to Polygons PoS Chain, why only now if lowering the protocol fees was the goal? Great question. Liquidity! An asset management protocol such as Set requires ample amounts of liquidity and asset choice to make deploying a viable proposition. This is important because Sets are 100% collateralized and hold all the underlying tokens required within their own deployed contracts, so when a user invests in a particular Set, there has to be on-chain liquidity to facilitate the acquiring of the underlying assets required to issue the Set token and send to the investor. Who solved the pre-requisite for us? Our friends at 0x for efficient order routing & Sushi for liquidity, who have both shared previous success stories with their respective Polygon launches."