[Polygon] Polygon’s Daunting DeFi- DinoSwap
This series brings the views of top DeFi applications integrated on Polygon. We had time to sit down with the DinoSwap team to learn more.
1.Please tell us more about your project and your team.
DinoSwap is a multi-chain infrastructure platform that builds liquidity for layer one blockchains, AMMs, and partnering projects. We are proud to call Polygon our home base because yield farmers love velociraptor fast and prehistorically cheap transactions! DinoSwap is conceptually similar to PancakeSwap but where we differ is our approach on quality over quantity and superior DINO style. You’ll find some of your favorite Polygon projects participating in our Fossil Farms (LPs hosted on SushiSwap, QuickSwap, DFYN, and more to come!). DinoSwap will be expanding across multiple blockchains in due time, replicating the success and standards we’ve established on Polygon. From a multi-chain perspective, this allows for easier transitions if community members are looking to try out a new Layer 1. Some of DinoSwap’s core features include Fossil Farms, Extinction Pools, Tar Pits, Jurassic Pools, and the Paleo Bridge. The Extinction Pools are unique single asset (DINO) staking pools that feature a 100% toll-bridge (token burn) swap for partnering projects. This unique deflationary feature allows users to burn their DINO in exchange for project token rewards. The Tar Pits are time-locked DINO vaults. The Jurassic Pools are similar to “Syrup Pools” from PancakeSwap, and let users stake their DINO tokens to earn more project reward tokens. The DinoSwap DEX router will be built out to source the best transaction rates on swaps with no additional fee. Lastly, the Paleo bridge is an ETH-Polygon Bridge where users can port their assets over for convenience purposes. The DinoSwap Team is comprised of experienced DeFi developers and project managers. We are all core contributors to the project and we choose to remain anonymous in order to prime DinoSwap for a decentralized governance model in the future.
2.Where are we in the hype cycle for DeFi
We believe that DeFi is in the very early stages of development. Attrition will bring way to new categories of projects, and we expect given our vast pipeline of utility, we are in a prime position to capture market share through our vast array of business development connections. And although markets can be volatile, we expect quality projects to rise to the top. By focusing on developing a healthy ecosystem, we expect DinoSwap to continue growing and stand the test of time.
3.Who are some thought leaders you follow in the space?
The DinoSwap team works hand in hand with the Polygon Team, and for more reasons than one, we are truly taken aback by the inherent nature of the drive, passion, and success that makes the Polygon engine go. The Polygon team continuously works non-stop to research, grow, and develop the network. They are very inspirational. The results speak for themselves and we expect Polygon to maintain the status of being the go-to layer 2 scaling solution for all EVM compatible dApps.
4.What are some best ways for newbies to get up to speed in the space?
This may sound biased, but we believe farming is a great way to learn the basics of interacting with crypto, managing assets, bridging assets, and getting a front-line experience for DeFi. DinoSwap has documentation for the basics of getting started. All newbies should remember that security is a top priority and users are in full control of their assets. That being said, it is very rewarding to not have to rely on third parties for permission as you interact with Web3.
5.What is one thing that most people don’t know about your project?
DinoSwap is more than just a farming platform, we are building a top-down infrastructure platform that will expand across multiple chains. Our team is dedicated to creating a healthy ecosystem that users, projects, blockchains, and DEX’s can all utilize to tap into and increase their liquidity. By interconnecting existing communities and liquidity pools together, everyone benefits.
6.Why did you choose to build on Polygon?
We love Polygon and couldn’t be happier with our decision to initially deploy on Polygon. We have an article exploring the in-depth reasons why it makes so much sense for us that can be found here. In short, super-fast transactions, near-zero transaction costs, easy-to-use bridging solution, time-test security, and we’re in good company with projects like AAVE, SuhiSwap, Curve, and much more. Polygon is the go-to for yield farmers and so many non-native projects are migrating to Polygon to take advantage of this opportunity.
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.