Tidal Finance Receives a Significant Grant from Polygon, Strengthening the Partnership

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Tidal Finance

2 min readApr 26, 2021

Tidal Finance is delighted to announce to our ever-supportive community that we have received a significant grant from Polygon through their developer support program. Polygon (previously Matic Network) is an interoperability and scaling framework for building Ethereum-compatible blockchains. Polygon seeks to stimulate mass adoption of cryptocurrencies by resolving the problems of scalability on many blockchains.

The Tidal team had chosen to launch its v1 insurance solutions on the Polygon network due to its 100% EVM compatibility; high speed, low cost transactions and the overall composability of the network. This grant will go a long way in ensuring that goal is achieved.

Decentralized Insurance and Scaling Solutions

Tidal Finance and Polygon had already formed a strategic alliance through which Tidal will provide insurance cover solutions to the Polygon ecosystem, while utilizing Polygon’s scaling solutions. Polygon’s integration will help Tidal reduce a large amount of transaction cost incurred by cover reserve and premium rebasing. This in turn will make Tidal Finance more cost-efficient for our users, and in turn, spur adoption.

Polygon’s Developer Support Program

Polygon has started a Developer Support Program to help developers overcome difficulties they may face while developing Blockchain-based applications. It helps those building on Polygon to thrive via:

Early support grants
Technical guidance from its team and network
Security audit support
Marketing and promotional support
Help with investor connections

This grant by Polygon goes a step further in strengthening the partnership as it allows us to develop the mutual cover pool mechanisms faster and provide decentralized insurance to all the assets on the Polygon network. We’re sure this is just a beginning in our mutual journey as Tidal and Polygon explore more ways to synergize our talent and efforts

About Polygon

Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications.

About Tidal Finance

Tidal Finance makes DeFi safer by providing insurance coverage for assets across chains in custom balanced liquidity pools. TIDAL is a Balancer-like insurance market built upon Polkadot that allows users to create custom insurance pools for one or more assets.

With Tidal, users can choose risk pools depending on their risk appetite, and filter it through a combination of protocols/assets and their coverage terms (premium, cover period, etc). Liquidity Providers, on the other hand, can invest in pools that suit their risk/reward ratio.