Polis Announces Collaboration with MCN Ventures

Polis, a community-based DeFi platform, announced its collaboration with MCN Ventures, a prominent decentralized VC, today. According to Polis, the main focus of the recent partnership will be the development of a cross-chain DeFi ecosystem on Polis Chain.

Over the next few weeks, a total of 4 new projects will be deployed by MCN Ventures on Polis Chain as part of the collaboration. Polis outlined that the mentioned projects include decentralized stablecoins Xdollar and MinMax, farming ecosystem MCN Multiple, and Acheron, a third-party bridge for Polis Chain.

Decentralized Finance (DeFi) has become the next big thing in the global financial ecosystem. Along with NFTs and traditional crypto tokens, investors have poured billions of dollars into leading DeFi projects over the last few months.

"For our project, it is the first time that we will work together with a venture fund. The special thing is that MCN is completely decentralized and has a huge network in the DeFi space. This brings us many new opportunities to grow our Polis Chain for 2022. We are looking forward to this collaboration and the future new projects on our chain,” Andreas Meyer, Business DAO Manager, commented on the partnership between Polis and MCN Ventures.

DeFi Developments

The latest collaboration follows a wide range of developments at Polis. Last month, the DeFi platform launched Hades Swap. During the same month, Polis announced a partnership with Meter.io to bridge the Olympus Network to Binance Smart Chain to facilitate transfers of the stablecoin, DAI.

“In November 2021, Polis launched Hades Swap, its first decentralized exchange (DEX) in a key pivot into the DeFi space. The DEX had over $2.5 million in trading volume in its first week, with Total Value Locked (TVL) peaking at $2.5 million too. To date, $6.5 million worth of crypto assets has been traded on the platform. Moreover, Polis successfully launched the Olympus Network, a blockchain within the Polis ecosystem capable of running smart contracts,” Polis added.