Ape Into Polygon Defi by Defi Dad

Only a year ago, Compound released its COMP governance token and by launching their liquidity mining program, they unleashed what would become known as DeFi Summer! While the past cannot guarantee what future the market holds for us in DeFi, the momentum of DeFi on Polygon / Matic seems to indicate we’re in for a wild ride.

Polygon now boasts just under $4B in TVL and according to Alex Svanevik of Nansen, you can see Polygon usage measured by transactions has gone parabolic.

Luckily, we’ve already discussed quite a few of the hit DeFi products on Polygon so I wanted to shift gears today and provide a guide of the biggest, most reputable applications on Polygon with farming programs to consider participating in.

Assuming you’re well acquainted with Polygon as a thriving sidechain of Ethereum, meaning it bridges to Ethereum but does not inherit the security or decentralization of Ethereum, let’s get started!

How to Ape into DeFi Summer 2021 on Polygon

Before we get started, please be aware of a few major risks. 

• Smart contract risk is always my top concern. Some of these apps can be covered by Nexus Mutual including Curve, Aave, PoolTogether, and mStable since Nexus cover inherits L2 and sidechain support now.
• As an LP in QuickSwap or Cometh Swap, one can experience impermanent loss assuming the 2 tokens in the LP don’t remain in perfect 1:1 correlation.
• Be aware the APYs I quote below will likely change by a little or