I previously covered PolyCrystal in a separate article here. Just over a month old, PolyCrystal is a relative newcomer to the Polygon space. Despite that, they’ve gone from strength to strength, with over $13M in TVL and an impressive, combined total of over 60 $CRYSTL pools and LP farms offering up to 500% APR.
At this point some projects might have been content to kick back and take a short break to celebrate their success, but PolyCrystal clearly isn’t one of them. Instead, they’ve rolled up their sleeves, held true to the third of Apeswap’s 10 commandments and released their next product, the PolyCrystal Portal.
Polygon Overview
It’s no secret that Polygon has recently exploded in popularity, seeing a 27,000% increase in activity and new users since the beginning of 2021. In fact, on the 16th of July 2021 Polygon processed 9.1M transactions in a day, almost double the daily transaction volume of the BSC (3.7M transactions) and Ethereum (1.2M transactions) combined.
Several BSC projects have capitalized on this fact, going cross chain in order to establish themselves amongst the many new users on the Polygon network. One popular example of this is ApeSwap, a popular DEX that started on the BSC but has now gone multichain alongside multiple partners!
With the recent hype and trend towards Polygon, are you looking to migrate your project over to Polygon? Maybe you’ve been hearing about the many benefits of the Polygon network and think the project you’ve invested in could benefit from it but you’re unsure of how to go about getting started.
Well look no further, this article might just be the solution for you.
PolyCrystal Portal Overview
The PolyCrystal Portal is an end to end solution that attempts to streamline the process of launching your project on Polygon. A 3 step process, the program also sees your project partnering with PolyCrystal and Apeswap, some of the biggest names in the Polygon and BSC space.
How it works
Step 1: Your project token (which we’ll call “TOKEN”) is bridged across to Polygon via one of PolyCrystal’s bridge partners.
Step 2: A farm for TOKEN-MATIC LP’s is created on PolyCrystal, generating demand for TOKEN and incentivizing users to provide liquidity by rewarding them with CRYSTL. You then also have the option of providing additional $TOKEN that will be used to create a TOKEN staking pool where users can earn TOKEN by staking CRYSTL.
Step 3: Once your project achieves a certain amount of liquidity (the exact number is determined on a case by case basis), you’ll then also then be considered for an opportunity to be listed on ApeSwap!
PolyCrystal Portal Benefits
Marketing
The biggest and most obvious benefit is the marketing that a partnership like this would bring to your project. Only at a month old, PolyCrystal already has 20k active website users and 5k followers across their various social media channels, which would save your project tens of thousands of dollars in marketing spend.
Should your project then continue to be successful and chosen to be listed on ApeSwap, this then unlocks the additional 400k active website users and 175k followers across ApeSwap’s social media channels! As an example, Cryptoblades was a relatively unknown project in the BSC space before it partnered with ApeSwap. It graduated the ApeSwap BUIDL program on the 4th of July and saw an 1100% spike in new users over the next 10 days!
Cryptoblades’ success was limited to only the users on the BSC. If chosen by ApeSwap, we can only imagine the influx of new users to your project across two different networks.
Note: Marketing with ApeSwap is not instantly guaranteed when participating in the PolyCrystal Portal program.
Technical Expertise & Time Savings
There’s a common saying in the crypto space — “3 days in crypto is about a month in the real world”. Why fumble about and risk wasting time figuring out the process of going cross chain when this program gives you access to the technical expertise of a team that’s done it before?
You’ll work closely with both PolyCrystal and ApeSwap’s internal teams who will help facilitate and advise you on the end to end process. An all-star lineup, there is a wealth of experience to be leveraged from a project that had a hand in bringing many of its partners over to Polygon.
An End-to-End Solution
This is mentioned multiple times throughout the article but it bears repeating. Users of your project need a platform to purchase your tokens and you’ll need a liquidity pool to make this happen. The combination of PolyCrystal and ApeSwap offerings does precisely that.
With liquidity taken care of, this allows you to focus on what’s important — Building and fleshing out the product that attracted your users in the first place.
Closing Thoughts
Despite the many benefits of expanding into Polygon, it’s surprising to see that not many projects have done so. According to Dappradar, at the time of writing only 23 projects on Polygon surpass a balance of $1M as compared to the 100 on Ethereum and 92 on the BSC.
This tells me that there’s still plenty of opportunity on Polygon, with many a user still shopping around for a solid, well built product. Projects that grab the bull by the horns now could see this as being the first step in setting themselves up to be a mainstay in the Polygon space, and the PolyCrystal Portal might just be your way in.
Useful Links
- Website: https://polycrystal.finance/
- PolyCrystal Portal Sign Up Form: https://forms.gle/HS9zAx6ffCgQDWX96
- Twitter: https://twitter.com/PolyCrystal
- Matic Faucet: https://polycrystal.finance/faucet
- Educational Series: https://polycrystalfinance.medium.com/
- Gitbook: https://polycrystal.gitbook.io/polycrystal-finance/
If you liked the article, check me out here on Twitter and Medium where I write about other crypto topics I stumble across.
Note: The views expressed are my own and should not in any way be taken as financial advice.