InstaForex

August 20, 2021

General Polygon DAO Project, Also Joined Chainlink, Aave & SushiSwap

 In the latest announcement, Polygon unveiled the decentralized autonomous organization (DAO) building project for all its community members including projects in decentralized finance (DeFi).


That way, Polygon believes it can integrate DeFi platforms and services and highlight discussions between projects involving QuickSwap, SushiSwap, Aave, Chainlink, etc.


Consequently, voting for the election of new members can be carried out in various ways such as MATIC staking on Proof-of-Stake (PoS) consensus or through DAO token holders.



DAO also offers solutions for scaling projects on software development kits (SDKs). This also includes other benefits including equipment construction, integration and projects on Layer2 merging.


With a little brief knowledge, DAO is a protocol that plays the role of spreading governance responsibilities across a network without a centralized party. Only DAO token owners can vote on governance proposals.


On Friday, Polygon announced to ‘incorporate’ the Hermez Network into its ecosystem, worth $ 250 million in MATIC. It is part of the expansion of the Polygon network towards zero-knowledge proof (ZKProof).


This means, Hermez tokens will be available on Polygon through swaps, and integrate transaction merging technology in its ecosystem.