DeFi governance tokens are coming to Matic Network!
It is of a great pleasure to announce to all that Matic is welcoming PowerPool, DeFi governance token pooling platform.
PowerPool is a meta-governance protocol which aims at accumulating voting power in decentralized protocols and utilizing it based on decisions on it's community.
PowerPool offers three main products to the ecosystem, which are;
Power Index: A decentralized community-governed index that is composed of eight governance tokens, which includes; YFI, AAVE, SNX, COMP, MKR, UNI, WNXM, and CVP.
Power Oracle: These are public decentralized oracles which provides several networks, including Matic, with reports on price feeds for some sets of assets
Lending Market for governance tokens.
Furthermore, PowerPool is on a mission to expand the utility of governance tokens for end-users as well as providing a new level of coordination regarding decision making in the DeFi ecosystem, hence, unlocking the full potential of decentralized governance.
Matic and PowerPool have a similar vision of DeFi powered by scalable infrastructure with close-to-zero gas fees. Through the provision of high-performance, low-fee DeFi accessibility only, will the DeFi industry be capable of reaching mass adoption and thrive. For this reason, PowerPool has onboard to Matic Network in order to power the functionality of their platform, aiming for a notable decrease in charges for governance token holders and empowerment of minority holders, who currently are unable to take part in voting or borrowing/lending as a result of extremely high gas charges on Ethereum.
The duet aims to unlock the full potential of decentralized governance!
About Matic
Matic Network brings massive scale to Ethereum using an adapted version of Plasma with PoS based side chains. Matic offers scalable and instant blockchain transactions. Matic is a team passionate about decentralization and better products. The current decentralized eco-system lacks usability and convenience. Decentralized transactions are slow, expensive and complex. Matic aim to change this by leveraging a combination of blockchain scaling, developer platform and tools, and a rabid focus on user experience. We aspire to see a world where blockchain gains mainstream adoption, and fulfills it’s true promise.