FLUID (FLD) Taps Polygon for Speed and Ultra-Low Transaction Fees
FLUID (FLD) has announced its adoption of Polygon (MATIC) as its primary decentralized finance (DeFi) network to enable it to offer its users cost-efficient and superfast transactions. Polygon is now home to more than 7,000 decentralized applications (dApps) and counting.
FLUID Adopts Polygon (MATIC)
FLUID, an ultra-low latency liquidity aggregator that leverages AI quant-based models to solve the problem of fragmented liquidity in the virtual asset markets, has adopted Polygon as its primary DeFi network due to the latter’s minimal transaction costs, high scalability, and speed.
For the uninitiated, the Polygon Ethereum layer-2 scaling solution boasts transaction speeds of up to 10,000 TPS, with a processing time of 2.3 seconds per transaction. In contrast, the Ethereum blockchain can process just 30 transactions per second and it spends an average of 15 seconds on each transaction.
Due to Polygon’s speed, scalability, EVM compatibility, and ease of use, amongst other qualities, the network is now home to more than 7,000 decentralized applications (dApps), with more than 3.4 billion transactions executed on the network and over 130 million unique addresses created since its launch in 2017.
Based on these sterling features, FLUID says Polygon is the blockchain of choice for its decentralized solution.
Ahmed Ismail, President, and CEO of FLUID said:
“FLUID’s philosophy to provide ultra-low latency and costs is deeply intertwined with Polygon’s. As the future of aggregated liquidity, we will grow with Polygon, and together provide ultra-efficient solutions and best execution practices to virtual asset markets in both the CeFi and the DeFi space.”
FLUID Positioned for the Future
FLUID says it sees a future where many physical and digital assets will be tokenized on the blockchain. As such, it’s positioning itself to capitalize on the multi-trillion-dollar tokenized market volume potential across spot, futures, derivatives, synthetics, STOs, tokenized assets, and more.
Jason Jiang, CTO at FLUID said:
“FLUID is delighted to adopt Polygon as its primary DeFi chain to improve fragmented liquidity. By building on Polygon, $FLD token holders will have access to a premium experience at ultra-low latency and ultra-low transaction fees. Given Polygon’s creative scaling solutions for the Ethereum blockchain, we decided to adopt Polygon after doing significant market research.”
FLUID has made it clear that it’s on track to complete its development on Polygon by Q3, 2022. FLUID will start its partnership with Polygon as its commit-chain and will look to take advantage of the network’s full-stack scaling to build the FLUID naive app which will go live in Q1 2023.
FLUID is driven by a seasoned senior team with diversified experience in leading traditional financial institutions such as Bank of America, Merill Lynch, Goldman Sachs, BNY Mellon, Citibank, Visa, and founders of top-tier digital asset OTC trading desks, quantitative firms, and more.
