WEX Token Jumps 60% Following News of Polygon Support and Airdrop

Following the news of a Polygon Partnership + Airdrop feature, WaultSwap jumps into the cross-chain world of DeFi.

By
John Tunney
on
June 4, 2021
Category:
BSC News

WaultSwap Joins Forces with Polygon

On June 3rd, WaultSwap announced via twitter that they are moving cross chain, partnering with Polygon, resulting in a huge upwards spike in price for WaultSwap. WaultSwap is a large decentralized exchange (DEX) operating on the Binance Smart Chain, that allows users to buy, sell, exchange, stake, etc via their platform. WaultSwap also announced via the same tweet new yield farming pools, higher rewards, and an airdrop to WEX and WaultX holders. The WaultSwap community is ecstatic. 

Source

This a tremendous move for WaultSwap, as the cross chain capability will allow WEX to trade, sell, buy and swap currencies that run on the Polygon network. Without getting too far into it, Polygon is an Etheruem network scaling solution protocol, which to put simply means that they help manage Ethereum’s growth, by lowering transaction fees and time. This incentivizes more tokens and investors to come to the Ethereum backed protocols, as faster times and lower transaction fees are also a benefit. 

Since the time of writing, WaultSwap is up 64% in the last 7 days trading at $.049, according to CoinGecko. It is trending high, floating around the top 300 market cap spot. 


Significance

The significance of WaultSwap’s most recent partnership with Polygon is tremendous. Polygon looks to become a huge player in layer-2 scaling, and WaultSwap partnering with the massive protocol should be tremendous for the DEX. Partnerships in crypto is typically a win, and for WaultSwap, this looks to be huge. The community also agrees, as the WaultSwap’s price shot upwards emphatically following the news. Time will tell if this is a partnership that truly separates and distinguishes WaultSwap from the other DEXs on the Binance Smart Chain network. 


WaultSwap

Wault Finance is a decentralized finance hub that aims to be a one-stop-shop for DeFi applications. The platform circumvents traditional hassles that surround crypto applications such as high fees, complex trading interfaces, and other centralized tenets of finance.

Wault’s products include WaultSwap, Wault Launchpad, Wault Locker, as well as plans for future innovation to boost their platform to even higher levels. Wault is a community-oriented project, and started with a low market cap and no whale-like venture capital investments. 


Polygon

Polygon (MATIC) is an Ethereum token that powers and is used on the Polygon Network, a multichain scaling solution for Ethereum. Polygon looks to provide faster and cheaper transactions on Ethereum by using Layer 2 sidechains. Layer 2 side chains are blockchains that run alongside the Ethereum main chain.

Check out these other BSC projects on Polygon!

AutoFarm Announces Support for Polygon, Supporting 3 DeFi Networks

Beefy Finance Launches Vaults on Polygon

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John Tunney

John Tunney is an accomplished analyst and crypto enthusiast. The UCLA alum has been actively reporting and blogging for 3 years, and has a passion for all things finance.

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