21st July — We are excited to announce that DFX Finance, a decentralized forex protocol, is coming to Polygon.
DFX Finance is the DEX specifically for fiat-backed stablecoins such as USDC, CARDC, EURS, and more. By bringing its decentralized protocol to Polygon, DFX Finance can achieve its goal of providing institutional FX rates to retail investors with cheaper and faster transactions.
DFX Finance is powered by Chainlink as it gives the reference point for the bonding curve of various stablecoins. With Polygon, users will be able to trade assets such as $CADC, $EURS, and $XSGD at significantly lower costs.
The decentralized protocol comes with features such as Swaps and Pools where price changes are tied to the Oracle price and swaps performed to move the pool ratios.
We look forward to the growth of DFX Finance with Polygon to bring more efficiency to their remittances.
About DFX Finance
DFX is a decentralized foreign exchange (FX) protocol that facilitates the seamless exchange of fiat-backed stablecoins denominated in a growing number of currencies. The current reliance on USD-pegged stablecoins creates undue economic friction for those in other parts of the world, and DFX is here to change that. Using a hyper-efficient AMM, optimized for low volatility trading, DFX provides FX swaps with rates that will beat any bank, money changer, or FX platform.
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About Polygon
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 450+ Dapps, ~350M txns, and ~13.5M+ unique users.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.
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DFX Finance is coming to Polygon! was originally published in The Polygon Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.