On August 8th, Polynomial Superchain went live. The L2 offers significant advancements in DeFi and onchain derivatives. Polynomial Chain is an L2 designed for hyperscale onchain derivatives trading, tackling the scalability and liquidity challenges present in the current DeFi ecosystem.
Leveraging the Superchain ecosystem provides enhanced scalability, reduced gas fees, and robust security through the Ethereum mainnet. Designed to tackle DeFi challenges, especially in onchain derivatives trading, Polynomial ensures efficient and seamless operations. Polynomial Chain offers different key features.
Key Features:
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Native Liquidity Layer: This layer aggregates liquidity into a single, unified pool that is accessible across various financial products, such as perpetual swaps and prediction markets. It allows for deep onchain liquidity, enabling large trades with minimal slippage. By pooling liquidity in this manner, Polynomial optimizes capital efficiency and ensures that users can access the necessary resources for their trading activities.
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Abstraction Layer: The abstraction layer simplifies blockchain interactions by converting complex operations into a user-friendly interface, similar to what users experience with centralized exchanges. Account abstraction further enhances this by streamlining account management, making it easier for users to interact with the blockchain without needing in-depth knowledge of wallet operations. This layer is crucial for reducing friction and promoting broader adoption of on-chain trading.
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Settlement Layer: Polynomial Superchain’s settlement layer supports hybrid solutions, allowing data submission both offchain and on-chain. This flexibility ensures that transactions are settled quickly and efficiently, leveraging the best aspects of both onchain and offchain mechanisms.
Polynomial Staking
Staking on Polynomial is now live! Users can now stake their assets on polynomial.fi and earn rewards. Early adopters can deposit USDC, sDAI, and sUSDe to participate in the Points Program and Initial Liquidity Event. These early participants will receive boosted rewards, with Day 1 stakers getting a 1.5x points boost that gradually declines over 14 days.
The liquidity raised will be utilized for the soon-to-be-launched "Trade" protocol, which has previously achieved over $4.7 billion in volume on the OP Mainnet and Base. "Trade" will offer delta-neutral positions, gasless trading, native cross-margin capabilities, and support for multiple collateral types, providing a user-friendly experience comparable to centralized exchanges. "Trade" will also earn Polynomial liquidity providers 60% of the associated fees. Staking withdrawals will be enabled shortly after the launch of "Trade," expected in 14 days from the start of staking deposits.
Retroactive points have been awarded to pre-qualified users of Pyth, Synthetix, Fluid, Ethena, and sDAI, as well as NFT holders of collections like Pudgy Penguins and Miladys. These points can be claimed by bridging and depositing a minimum of $100. To get started with staking and earning rewards, use the exclusive invite code OPTMSM.
Polynomial Chain is laying the foundation for the next generation of derivative dApps, making derivatives open, accessible, and efficient. The launch is possible through Optimism, Conduit, Pyth Network, Socket Protocol, Alchemy, ZeroDev, and Routescan partnerships.
At Superchain Eco, we're excited about Polynomial's future to enhance onchain derivatives trading.
