Ethereum-based DeFi lending protocol Credefi migrates to Polygon’s L2 solution and on-boards a new strategic partner — LucidBlue Ventures

This move is a major step towards the protocol’s multi-chain future goals, and it will ensure higher network throughput, low transaction costs and most importantly, it will tackle Ethereum’s scalability hurdles.

The Polygon Network immensely boosts the adoption of DeFi in the crypto space by its innovative features. It is currently available for end users and developers alike.

Polygon has had massive success with a wide array of projects in the past year by becoming the side-chain of choice for protocols like AAVE, QuickSwap, Curve, SushiSwap, Cream Finance to name a few, where users benefit from fast and cheap transactions, while maximizing their profits. This has had a tremendous impact on the DeFi sector, by outperforming Ethereum-only platforms in many key aspects.

By expanding onto Polygon, Credefi will ensure a seamless user experience for its diverse community and enter the DeFi market with a considerable competitive edge, right after its anticipated public sale.

LucidBlue Ventures Partnership

The expansion coincided with the news about Credefi’s new strategic partnership with LucidBlue Ventures. The fund became a direct investor in Credefi and both teams merged their expertise, focusing on Credefi’s future interoperability goals.

Lucid Blue Ventures has had an impressive portfolio of backed projects, focusing on DeFi, Gaming and NFT’s, such as Cryptonovae, Fanadise and Ulti Arena. Furthermore, LucidBlue’s managing partner Yechuan (Charlie) Hu is also Polygon’s Head of China.

The importance of such strategic partnerships in the industry is manifested through the innovation they bring to the crypto space. Polygon’s use-case is evident and the ever-growing community of DeFi investors deciding to entrust their capital with robust DeFi protocols is increasing. Credefi’s revolutionary 3-layer security mechanism, combined with the stability of Polygon’s network and its high speed, low-cost nature, creates a synergy capable of disrupting the DeFi sector for years to come.

-Ivo Grigorov (CEO, Credefi)-

“Our partnership with LucidBlue Ventures is invaluable. It combines the best of both worlds in DeFi — extensive expertise and guidance, provided by the best in blockchain — Polygon! Everyone at Credefi is proud, grateful and excited about this huge step!”