Teller Finance launches Mainnet on Polygon and shifts 2,200 NFT

Teller Finance, an unsecured credit score protocol for the DeFi market, has formally launched its mainnet on Polygon, marking an essential milestone in its efforts to supply user-friendly, scalable options.

With the launch of Teller’s polygon mainnet, customers will be capable of begin depositing and funding liquidity swimming pools instantly, the corporate introduced on Tuesday. The Teller protocol continues to be obtainable to be used within the Ethereum (ETH) mainnet.

Teller’s implementation of Polygon is a part of a broader technique to make digital property extra mainstream with out the limitations of sluggish transaction speeds and greater charges. Noting DeFi’s success for Ethereum, Ryan Berkun, CEO of Teller, additionally famous that among the community’s shortcomings should be addressed instantly. He defined:

“The vendor desires to stay blockchain-agnostic and [Ethereum Virtual Machine] Compatible, however fixing community issues with Ethereum instantly is essential to our mission […] Ethereum scaling options like Polygon allow initiatives like ours to shortly transfer Ethereum options right into a scalable community and deal with a lot of our issues about rising gasoline and community prices. “

Related: Polygon launches blockchain recreation and NFT studio studio

As a part of the port of Polygon, Teller transferred 2,200 NFTs valued at greater than $ 15 million to Polygon. The sale of those so-called Fortune Teller NFTs generated 5,096 ETH from over 1,300 distinctive patrons in March.

The NFT market has reached actually epic proportions up to now few months, with buyers spending thousands and thousands of {dollars} on CryptoPunk collectibles. The newest development seems to be pet rock NFT, with at the very least one EtherRock promoting for 45 ETH and price round $ 139,000 at press time. The costliest EtherRock is at the moment listed at 1.9 billion US {dollars}.

Related: Stories from 2050: A Look at a World Based On NFT