We are thrilled to announce that Backed Finance, the pioneering crypto start-up focused on bridging real-world assets on-chain, has extended its token offering to include the Polygon network. This strategic move marks a significant step forward in our mission to foster seamless integration of traditional assets into the world of decentralized finance (DeFi). With our ERC-20 compatible tokens, institutions and professional investors can now access our tokenized real-world assets on Ethereum, Gnosis chain, and Polygon, unlocking a wide range of exciting opportunities.
Why Polygon Compatibility Matters:
1. Enhanced Scalability and Cost Efficiency:
By integrating with Polygon, Backed can leverage the network's high throughput and low transaction fees, addressing the scalability limitations of Ethereum. This advancement allows for faster and more cost-effective transactions, enabling users to efficiently manage their assets while enjoying a frictionless experience.
2. Expanded Access and User Base:
Polygon's rising popularity and growing ecosystem provide Backed with an extended reach, enabling us to tap into a larger community of DeFi enthusiasts and developers. This broader exposure not only strengthens the network effect but also ensures that our tokens and products are accessible to a wider range of investors, thereby democratizing access to real-world assets.
3. Interoperability and Composability:
Backed's integration with Polygon empowers our tokens to seamlessly interact and integrate with other DeFi protocols and applications within the Polygon ecosystem. This interoperability enables users to explore diverse DeFi use cases, including lending, borrowing, yield farming, and decentralized exchanges, while retaining ownership and exposure to real-world assets.
A word from the Giorgio Giuliani, Head of Product:
"We are excited to bring our bTokens to the Polygon network, as it represents a significant milestone for Backed. By expanding our token availability to Polygon, we are unlocking new opportunities for our users and partners to harness the power of decentralized finance," said Giorgio Giuliani, Head of Product at Backed.
"This move aligns perfectly with our vision of seamlessly integrating traditional assets into the DeFi ecosystem. With Polygon's scalability and vibrant community, we can provide a smoother and more cost-effective experience for our users while fostering a truly decentralized and inclusive financial landscape. We believe this expansion will accelerate the adoption of real-world asset-backed tokens and drive innovation in the DeFi space," Giorgio added.
Looking Ahead:
Backed is committed to revolutionizing the way real-world assets are integrated into the blockchain. The addition of Polygon compatibility is a significant step towards our goal of building a more inclusive and accessible financial ecosystem. As we continue to explore new partnerships and opportunities, we invite institutions, professional investors, and the broader DeFi community to join us on this exciting journey.
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About Polygon Labs:
Polygon Labs develops Ethereum scaling solutions for Polygon protocols. Polygon Labs engages with other ecosystem developers to help make available scalable, affordable, secure and sustainable blockchain infrastructure for Web3. Polygon Labs has initially developed a growing suite of protocols for developers to gain easy access to major scaling solutions, including layer 2s (zero-knowledge rollups), sidechains, app-specific chains and data availability protocols. Scaling solutions that Polygon Labs initially developed have seen widespread adoption with tens of thousands of decentralized apps, unique addresses exceeding 261 million, over 1.4 million smart contracts created and 2.7 billion total transactions processed since inception. The existing Polygon network is home for some of the biggest Web3 projects, such as Aave, Uniswap, QiDao and OpenSea, and well-known enterprises, including Robinhood, Stripe and Adobe. Polygon Labs is carbon neutral with the goal of leading Web3 in becoming carbon negative.
If you're an Ethereum Developer, you're already a Polygon developer! Leverage Polygon’s fast and secure txns for dApps you develop, get started here.
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About Backed Finance:
Backed is a Swiss start-up bridging real-world assets on-chain. We issue tokens that track the value of real-world assets, such as stocks or ETFs. Tokens are freely transferable across wallets, are fully collateralized by the underlying asset, and are issued in compliance with the Swiss DLT act.
Learn more about Backed and explore the possibilities of our bTokens on Polygon, visit backed.fi and follow us on LinkedIn and Twitter.
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Not for the distribution to any U.S. Person or any person or address in the United States.
Backed DOES NOT sell its tokens to U.S. Persons or for the account or benefit of U.S. Persons, and tokens are not marketed, offered, or solicited in the U.S. or in any other prohibited jurisdiction.
For a full list of prohibited and restricted countries and review of legal documentation, please visit https://www.backedassets.fi/legal-documentation
