Bolide Finance Launches First Automated Leverage Lending DeFi Strategy on Polygon

Bolide Finance has announced the launch of the first Automated Leverage Lending DeFi strategy on Polygon.

This milestone launch is the first step in Bolide's journey to expand its product as a multichain offering. The strategy will be launched on Polygon, one of the largest and strongest Web3 networks, providing secure, low-cost, and high-earning opportunities.

A “network first” for the Polygon network, the launch is set to make waves in the DeFi community, demonstrating new and exciting use cases for the technology and further contributing to the growth of Web3.

What is Bolide Finance?

Bolide Finance is a self-custody yield protocol that specializes in automated strategies across the DeFi market to generate the highest possible yield on single crypto assets while ensuring user security through minimizing liquidation risks and impermanent losses.

Bolide's team is on a mission to radically improve today’s DeFi experience by building an ecosystem for “smarter DeFi” through developing automated, intuitive, and easy-to-use tools. At the same time, they aim to maintain best-in-class yield access for their users while improving the security of traditional yield protocols.

With an AI-driven approach simplifies the complex process of Leverage Lending, Bolide allows users to benefit from powerful algorithms with just a few clicks. With a hard focus on user experience, Bolide is set to be the most user-friendly DeFi protocol on the market.

Scaling the DeFi Opportunity On Polygon

A first of its kind on Polygon, Bolide’s product will expand the network’s DeFi offerings and enable its 420,000+ active users to access entirely new ways to grow their crypto.

Bolide's competitive APYs & exclusive APY “boosts”, paired with Polygon's active community, present an exciting opportunity for the industry as a whole. The merging of networks will mean that existing Web3 users can easily leverage better liquidity and security, while those looking to enter the space can enjoy additional accessibility.

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“This launch is not only a milestone for Bolide, it’s a huge step for the industry as a whole. DeFi offers a world of financial opportunity that today, just a handful of individuals can access. We have customers who’re still holding their crypto with us well into their second year, only checking on their assets occasionally because there’s really no obligation to do anything to keep earning securely. They’re accessing the best of DeFi with complete ease and peace of mind, and that is exactly why we built Bolide. We plan to make DeFi just as accessible to everyone, and this launch is a major step towards making that happen.” - Ox Bid, Bolide Co-Founder and COO

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In addition to growing the Bolide ecosystem, the team behind the project have also announced an exciting new upgrade to the Bolide protocol itself — the launch of Bolide Finance V2, due to be released with the product’s launch on Polygon this week.

The system upgrade is penned to significantly improve user experience and further develop the fundamentals needed to build a thriving DeFi ecosystem. Bolide Finance V2 will feature a range of new innovations and updates, such as:

• on-chain strategy automation for less risky asset management
• protocol bridging
• multi-token collateral & leverage opportunities
• updated multichain interface

Bolide Finance V2 will launch exclusively on Polygon initially, with expansion across existing and future chains to follow.

A Promising Start and Positive Road Ahead

In April 2022, Bolide launched its first strategy based on the LBF “lend-borrow-farm” principle and deployed it on the BNB chain, enabling its users to access high, stable APY without risk to liquidity or enforcing any lockup period.

Since, the product has garnered an impressive $10M+ in TVL and has seen continued growth — despite a year of turbulent activity across the wider crypto market.

What’s equally impressive is the project’s roadmap and exceptional ability to deliver continuous updates to the community without fail. With a cross-chain strategy already in place, Bolide's current focus for the year is on automating more of the powerful features of DeFi to allow for wider adoption of Web3 and crypto. As such, the project is set to further expand its suite of DeFi tools in the coming quarter, among other impressive milestones in the pipeline.

A younger project on the scene, Bolide Finance is already making its mark and leading the charge in providing a more accessible and secure DeFi experience. The launch is just the beginning of Bolide's journey towards expanding its ecosystem, and for anyone looking to enter the DeFi space, Bolide Finance may be the perfect place to start.

To learn more about Bolide, visit the project’s website here, or follow the official Bolide Twitter page to keep in the loop with upcoming products & launches.

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Press contact:
Bolide PR team
pr@bolide.fi