Polyshield Hackathon Winner Platform with Low Fee and High-Speed Transactions
MADRID, SPAIN / August 26, 2021 – Polyshield has recently won the ‘Build for Scalability Using OxPolygon‘ hackathon track. Polyshield Finance, running with its native token SHI3LD, with only 1000 coins in initial supply, is a yield farming-oriented platform. Based on the Polygon blockchain, it works on the principles of decentralized finance. It aims to bring the benefits of Ethereum without its high transaction fees and slow block generation speed. The Polyshield Finance platform is built to be secure, safe, and sustainable, delivering higher returns to its users without the risk of rug pulls.
Yield Farming at Lower Fees
Farms work in a manner, where the users stake liquidity pool tokens to get rewards. With Polyshield Finance, users can provide liquidity to five farms, allowing transactions between SHI3LD and MATIC, USDC, WETH, QUICK, and USDT.
Users can stake SHI3LD tokens according to the liquidity pool APY, which is characterized by the percentage gain a user can make in a year when measured in USD. Farming on these pools helps users harvest SHI3LD, with which they can mint new blocks on the blockchain.
These features are not found in any other yield farms. Only Polyshield Finance has a system developed specifically for its community with an aim to build the best-performing platform.
Variable Emission Rates
Polyshield Finance has an initial minimum supply of 1000 tokens with no maximum set until today. This means that the users can add more blocks, which generates new tokens and adds them into the circulating supply.
This specific platform works on the lines of variable emission rates, which are calculated based on a curve input depending on the current token price in USD.
The curve rate on Polyshield has a price range. Any deviation (on either side) of this price range will result in a predefined action. The developers have set the minimum range at USD 1, and the maximum is USD 100.
When the price range is below USD 1, the emission rate will drop by 100% of the current price, and when it is above the upper range, the emission rate will increase by 1% on the top price.
This ensures that the emission rate per block is stable and easy to predict at any time. The users need only know the curve rate, and they can find the number of tokens minted in every block generated.
Public Burning System
To give the Polyshield platform its character of a decentralized system, a public burning function has been added. Unlike other platforms, no amount of minted tokens are directed towards the development team.
Every token minted on the platform is meant for the benefit of the community. While 90% of the minted tokens are sent to the users, 10% is sent to a burn function, which is publicly available.
Any user can open the burn contract and burn the existing tokens that are being collected to be burned. With more tokens being burnt, the users can benefit from a gradual price increase.
About Polyshield Finance
Polyshield Finance is a unique platform working on the Polygon blockchain and built with a highly secure and sustainable system. One of the major aspects of the platform is its yield farms, which help the user generate higher rewards by staking liquidity. It contains an innovative variable emissions rate program operating based on a curve rate and price range. The project is launched to become the golden standard for Polygon blockchain farms and ensure safe transactions for the community.
Media Contact:
Matthew O’Brien
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