Polygon | Polycat Finance overview

By Jacalf | Crypto casual writer | 6 Jun 2021


Hi everyone!

Today I am writing about Polycat Finance.

What is Polycat Finance?

https://docs.polycat.finance/

Polycat is a value-oriented, economically sustainable and decentralized hybrid yield optimizer (yield farm and yield aggregator) running on the Polygon blockchain (formerly known as MATIC).

Basically, we are looking at another yield farm and aggregator similar to pancakeswap on BSC. But this time it runs on Polygon which not only gives you lower fees but also you will have your assets on a more decentralized blockchain.

Polycat has it's own token $FISH which is the base for all the rewards on Polycat.

What can I do on Polycat?

 

Polycat menu

In polycat you can use their vaults that autocompound every minute and they reward you the same asset that you deposit.

At the time of writing you could for example use their DAI vault with an APY of 20% which is higher than most of other defi apps.

You can also use their farms to get rewards in their token FISH.

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And finally, they have their tanks where basically you can stake your FISH and get tokens from new projects being launched through Polycat.

Polycat numbers!

Currently, Polycat has a 215M total value locked.

To put this value in perspective, pancakeswap currently has around 7,627M, and quickswap has 1,056M.

This shows that it still has a long way to go to reach credible levels of TVL although 200M is not a number that we should desconsider.

FISH Stats

  • Market Cap $36,976,065
  • Total Minted 1,271,437
  • Total Burned 16,858
  • Circulating Supply 1,254,579
  • Maximum Supply 3,000,000
  • New FISH/block 0.8

Final Thoughts

I am using Polycat with a grain of salt, it has still a long way to go but the risk might be worth it when we look at their APYs.

They do have some interesting burning methods to guarantee a good rate of $FISH burning.

  • 5% of the earnings from standard vaults are used to burn FISH. 
  • 100% of the earnings from burning vaults are used to burn FISH. 

However, it is still soon to know its real price as in the last 90 days it showed a lot of volatility ranging between 26 and 50 dollars.

If you want to give it a try you can access it at

polycat.finance

or if you want to contribute use my referral link at

polycat.finance with my referral

 

 

 

 

 

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Crypto casual writer
Crypto casual writer

I have been in the crypto space since 2016, and I have now decided to start documenting my experience on using crypto products, I will focus on the Polygon network as the low fees allow me to experiment without spending a lot of money. Hope you find my content useful and interesting!

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