Share this article
Polygon Launches $100M Fund to Support DeFi Adoption
The Ethereum scaling project says its #DeFiforAll Fund aims to onboard "the next million users" to decentralized finance.
Updated May 9, 2023, 3:18 a.m. Published Apr 28, 2021, 7:15 p.m.
Make us preferred on Google
Polygon, the Ethereum scaling project formerly known as Matic, has launched a $100 million fund aimed at making decentralized finance (DeFi) more accessible to end users.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The so-called #DeFiforAll Fund will focus on efficiently onboarding users to decentralized products and platforms, according to an announcement Wednesday.
While other ecosystems have ramped up developer funds in recent months, the $100 million pot of money is one of the larger commitments in recent memory. (The fund will tap up to 2% of the MATIC token's 10 billion total supply, or 200 million MATIC, co-founder Sandeep Nailwal explained via Telegram. At press time, MATIC was trading at $0.80, making the fund worth $160 million in dollar terms.)
Read more: Tendermint Launches $20M Venture Fund to Boost Development Across Cosmos
The funding, in MATIC tokens, will come from the network’s ecosystem fund and be deployed over the next two to three years.
“We want to support the top DeFi protocols on Ethereum and help them scale and grow with Polygon,” Nailwal said in a statement. Aave and Curvehttps://blog.polygon.technology/continuing-scalability-defi-summer-with-5-million-usd-in-liquidity-mining-rewards-from-polygon-e73a76c5a8ad have both recently built Polygon-compatible versions of their trading platforms.
With mounting gas fees on Ethereum, Polygon's #DeFiforAll Fund hopes to attract more casual users who have been priced out of participating in DeFi so far.
“Polygon is committed to making DeFi accessible to the next million users,” Nailwal said.
Read more: DeFi Major Aave Working With Polygon to Bypass Ethereum Congestion
MATIC is the top performer Wednesday among the larger coins and is up 41-fold for the year to date.
UPDATE (April 29, 3:27 UTC): Adds information on the token composition of the fund.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Why crypto’s new token issuances are falling flat and what comes next
New crypto tokens overwhelmingly lost value in 2025 as early liquidity, weak utility and misaligned distribution collided with a risk-averse market.
What to know:
- About 85% of tokens launched in 2025 are trading below their initial valuations, with the median token down more than 70%, according to Memento Research.
- Broad exchange-led distribution and airdrops flooded the market with short-term traders, creating persistent selling pressure and weak alignment with product usage.
- Regulatory uncertainty and thin token utility left many new assets without a clear long-term value proposition in a market dominated by bitcoin outperformance.
Top Stories
