• Aragon uses Polygon (MATIC) to create DAOs more efficiently

  • Polygon, an Ethereum-based full-stack scaling solution that is bringing mass adoption to the Ethereum platform, announced last week that the Aragon Client, an Ethereum-based project that makes the creation and management of decentralized autonomous organizations (DAOs) simple and cost-effective, is now live on the Polygon PoS network.

    Web3 community growth has outpaced Ethereum’s current capacity, making DAO management and voting prohibitively expensive. Aragon can now ensure near-zero gas fees for DAO creation, management, and voting on Aragon by joining the Polygon ecosystem, as well as faster transactions and a seamless user experience, by joining the Polygon ecosystem.

    Introducing Polygon to Aragon

    Users of Aragon will also benefit from its interoperability with Polygon’s thriving ecosystem, which includes some of the world’s leading decentralized finance (DeFi) projects, such as Aave, Slingshot, and Sushi.

    Polygon is being used by Aragon as a full-stack scaling solution. Integrating with Polygon reduces the cost of DAO creation by more than 5000x, from well over $500 on Ethereum to around $0.1 on Polygon. For DAOs, this is a game changer.”

    Polygon shares Aragon’s vision of a world that is open, borderless, and decentralized. Polygon is trusted by hundreds of crypto projects and has a massive amount of traction, particularly in the DeFi space, where SushiSwap users are three times more prevalent on Polygon than on Ethereum.

    “Ethereum has become the default blockchain for supporting the burgeoning DeFi economy, allowing anyone, including the unbanked, to access key financial services such as savings, lending, and insurance,” said Sandeep Nailwal, co-founder of Polygon. He continued, saying:

    “However, Ethereum was not designed for large-scale DeFi, which is why we built Polygon PoS – to provide a solution to Ethereum’s scalability.”

    Polygon PoS is the most developer-friendly platform after Ethereum, providing its rapidly growing developer community with access to their favorite tools such as Hardhat, Truffle, Metamask, Etherscan, and more from day one.

    As a result, Polygon is seeing an increase in the number of innovative projects, such as Aragon, launching on its platform. There are currently over 500 Dapps in the Polygon ecosystem, including Sushiswap, Curve, Aave, Balancer, and Kyber, the most of any chain other than Ethereum.

    The announcement comes after Polygon revealed its own plans to establish a DeFi DAO to accelerate DeFi growth and onboard the next 1 million users into DeFi on Polygon.

    With the majority of Web3 projects already using Polygon’s PoS chain as their preferred scaling solution, establishing a DAO was the next logical step to improve collaboration and composability between blockchain-based systems – two critical aspects for Web3’s success.

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