PolyQuity is a decentralized borrowing protocol on the Polygon network which allows users to borrow the PUSD stablecoin against the MATIC token at 0% interest. PUSD is obtained by staking Matic and used to pay out loans on the PolyQuity protocol. At any time it can be redeemed against the underlying collateral at face value.
With this launch, PUSD users are tapping into nearly $500M of stablecoin liquidity consisting of USDC, USDT and DAI tokens (the IronSwap 3stables pool). This will enable PUSD users to swap at 10X lower swap fees and up to 100X smaller slippage compared to other DEXes like QuickSwap and SushiSwap on the Polygon network!
To further extend this partnership, PolyQuity will launch the “PUSD-IS3USD LP” farm to incentivize liquidity with PYQ rewards on PolyQuity’s website.