Community-based decentralized finance (DeFi) platform Polis has announced a partnership with MCN Ventures to build a cross-chain DeFi ecosystem.
This will be the first-ever partnership of this nature for Polis, as some projects will be deployed by MCN Ventures on the Polis chain.
According to the announcement, a third-party bridge for Polis Chain Acheron, and decentralized stablecoins, MinMax and xdollar will be deployed to the Polis Chain following the partnership.
Business Decentralized Autonomous Organization (DAO) manager, Andreas Meyer, commented on the development. “For our project, it is the first time that we will work together with a venture fund,” he stated.
With the total decentralized nature of MCN, it provides a massive network in the DeFi space, which is exactly what Polis needs at the moment. The broader network capabilities of MCN will bring many opportunities for Polis Chain to grow in 2022, Meyer noted, adding that the company is looking forward to the benefits of the partnership.
Another partner with MCN Ventures, Bill the Investor, was also very optimistic about the benefits of the deal. He noted that the collaboration between MCN and Polis will help to expand the DeFi space and build projects that will benefit the entire community. It will also help to rapidly expand the MCN ecosystem.
Polis Looks To Expand Operational Capabilities
The partnership with MCN Ventures is coming after Polis started a series of development projects following its entry into the DeFi space. Last month, Polis rolled out its first decentralized exchange (DEX) called Hades Swap to register its presence in the DeFi space.
One week into its launch, the DEX had already attracted $2.5 million in trading volume. As of the time of writing, about $6.5 million worth of crypto-assets has exchanged hands on the platform.
This is in addition to its successful launch of the Olympus Network, which is capable of running smart contracts. Polis says the network will enable developers in the system to develop dApps, which is very important in the DeFi space.
Polis also collaborated with Meter.io last month to integrate the Olympus network into Binance Smart Chain, facilitating the transfer of stablecoin DAI. Polis is also in the process of completing other partnership deals to expand the operational capabilities of the platform.