Aforetime, Polygon was named MATIC network, which is a scaling solution. It targets to give several tools for boosting the speed but at a lower cost. It also resolves the transaction complications on blockchain networks.
However, Ethereum is the focal point of vision of Polygon. Ethereum is the home platform for a range of decentralized apps. It may help to join the virtual world, buy art, or participate in any financial service. But miserably, Ethereum becomes nearly futile for all of those activities on the blockchain. It also clogs the traffic and hikes the transmission cost.
Additionally, Polygon is a layer-2 network that functions as an extra layer for Ethereum without changing the original layer of the blockchain. Therefore, the top five Polygon DeFi from the below section might be your top choice in the investment portfolio.
- Best (MATIC) Polygon DeFi to buy in 2022
- QuickSwap (QUICK)
- SushiSwap (SUSHI)
- Curve (CURV)
- TrustSwap (SWAP)
- ParaSwap (PSP)
- Pros and cons
- Final thoughts
Best (MATIC) Polygon DeFi to buy in 2022
Before proceeding further, let’s see the top ten Polygon DeFi Coins to buy in 2022:
- QuickSwap (QUICK: $73.86M)
- SushiSwap (SUSHI: $716.4M)
- Curve (CURV: $1.5B)
- ParaSwap (PSP: $14.0M)
- TrustSwap (SWAP: $100M)
- Binance (BNB: $68.67B)
- BiONE (SIBN: $625.59M)
- UniSwap (UNI: $8.70B)
- Whitebit (WhiteBIT: $99,678.19)
- Zebpay (ZebPay)
Market cap: $73.86M
On the Polygon MATIC, Quickswap is one of the five DEX. Developers made it as the AMM-DEX that gives swaps among the liquidity pools. Quickswap has all the capabilities similar to Uniswap; also, fees are exceptionally low; on top of that, the timing of the settlement is high-speed.
The max supply of Quickswap is $1,000,000.00, and among them, 32% or $327,100.00 coins are in circulation.
Does the QUICK have the potential to grow?
Quickswap is progressively growing its position since more projects listed on it recently. And more than $100 million of liquidity locked in the protocol. Quickswap will grow continuously and will allow the users to experience exceptionally low-cost transactions.
Market cap: $716.4M
SushiSwap is a fork of Uniswap. It gives the AMM capable decentralized exchange. The platform uses an order book, meaning there is less swap between the assets, utilizing liquidity pools without having a direct seller. The SushiSwap users may gain liquidity fees by giving assets to the liquidity pool. It also includes an automated price-fixing feature by smart contracts, removing custody risk. However, for experiencing the rapid processing but at a low cost, SushiSwap is now accessible on Polygon MATIC.
The max supply of SushiSwap is $239,609,006.12 SUSHI coins, and among them, $127,244,443.00 SUSHI coins are in circulation.
Does the SUSHI have the potential to grow?
The trading volume is in the direct proportion of the Sushi coin price. Therefore, an increment in the price of the SushiSwap is expected with each increment in the volume of trading. In 2022, SushiSwap may begin with the $6.37 of estimated worth. Also, it is expecting a stable increase, although it anticipated that it would close with an $8 value in 2022.
Market cap: $1.5B
Curve is the elemental DeFi protocol that requires no intro; that is why it is in the list of top five. It has the exact robust functionalities on Polygon MATIC layer-2 because of the higher fees and massive traffic on the Ethereum base layer.
It is a uniquely developed AMM decentralized exchange to trade wrapped assets and stable coins also, offering minimal fees and slippage. The users supply assets so that liquidity can pay fees. They also may gain benefit from the autoMATIC yield farming of the protocol by providing assets to Aave, Yearn Finance, etc.
The max supply of Curve is $1,674,854,967.95 CRV coins and among them, $453,124,018.00 CRV coins are in circulation.
Does the CURVE have the potential to grow?
In contrast with the other DEXs, Curve gives a loan function with low volatility. The users may get rewards by providing liquidity. Also, there is no need to match a seller for trading on the liquidity pool that turns into an effective transaction.
Market cap: $100M
TrustSwap is the cross-chain automated market-making DEX that supports Polygon MATIC and different blockchains. It may validate atomic SWAPs on numerous blockchains, and it is non-resident.
The max supply of TrustSwap native token SWAP is 100,000,000, and among this, 98% or 97,555,164.51 SWAP coins are in supply.
Does it have the potential to grow?
The main aim of the TrustSwap is to provide a multi-chain tokens SWAP on next-generation tokens. It will solve the existing split payment solution, subscription and cross-chain token SWAP.
Market cap: $14.0M
ParaSwap is a liquidity accumulator. It is very well suited along with Polygon MATIC, Binance Smart Chain, and Ethereum. PSP accumulates liquidity from different resources for providing the best rates with the lowest fees to their users, encouraging swap of more assets. In the future, it may extend the scope to a governance token named Airdrop. Therefore, it’s hugely advised to try using the protocol.
The max supply of ParaSwap is $2,000,000,000.00 PSP coins and among them, $72,891,000.00 PSP coins are in circulation.
Does it have the potential to grow?
ParaSwap is trading below 82.5%; its ATH was two months ago. Also, there are plenty of governance projects along with the new governance feature continuing now. It is targeting to develop a better experience and positive inducements that motivate the users.
Pros and cons
|👍 Pros||👎 Cons|
In a nutshell, Polygon certainly has a few risk factors and will be less demanded if Ethereum 2.0 develops its functional mode. Hence, robust risk management techniques are applicable for the platform and the search for the best-suited price from technical analysis.