dHEDGE’s v2 Polygon deployment boasts a SushiSwap integration enabling asset managers to access Sushi’s DEX and yield farming functionality.
(adsbygoogle = window.adsbygoogle || []).push({});
3080 Total views
390 Total shares
Decentralized asset management protocol dHEDGE has launched its v2 deployment on Polygon. The new platform also boasts integration with popular decentralized exchange SushiSwap.
Speaking exclusively to Cointelegraph, dHEDGE’s Henrik Andersson highlighted v2’s new Guarded Open Access Transactions (GOAT) framework, which enables v2 users to access whitelisted decentralized finance (DeFi) DApps whitelisted by the dHEDGE decentralized autonomous organization (DAO).
Andersson emphasized that the GOAT framework will significantly increase the speed with which dHEDGE is able to launch new integrations with third-party protocols, stating:
“It’s like a general framework for us to add support for DApps. Instead of having to build specific plugins or connections to DApps, we can use this framework to whitelist DApps.”
Launched in late 2020, dHEDGE’s first iteration exclusively allowed fund managers to speculate on assets provided by the Synthetix protocol. By contrast, v2’s GOAT framework allows fund managers to access the assets and services of any Ethereum Virtual Machine (EVM)-based protocol approved by the dHEDGE DAO, enabling asset managers to provide yield farming services for investors.
At launch, dHEDGE v2 will enable support for SushiSwap’s Polygon-based decentralized exchange and yield farms. The dHEDGE DAO is currently exploring other popular DeFi protocols for potential support.
Related: dHEDGE launches tokenized index tracking its top 10-ranked traders
Andersson said that dHEDGE’s DAO is currently looking into integrating with Aave, noting the decentralized money market would enable asset managers to borrow a wide variety of assets for shorting. He added that dHEDGE plans to launch its v2 platform on additional EVM-compatible chains, noting Eth2, Optimism and Arbitrum as likely contenders.
Despite the expanded functionality, Andersson described gas fee mitigation as the primary motivation behind dHEDGE v2, noting the steep fees associated with trading through the protocol on Ethereum’s layer one.