What is Polygon?
Polygon is a platform design to support infrastructure development and help Ethereum scale. Its core component is a modular, flexible framework (Polygon SDK) that allows developers to build and connect Layer-2 infrastructures like Plasma, Optimistic Rollups, zkRollups, and Validium and standalone sidechains like the project's flagship product, Matic POS (Proof-of-Stake). Polygon rebranded from Matic Network in February 2021 and pivoted towards supporting multiple Layer-2 infrastructure. It will continue to support the Matic POS sidechain and Plasma-based payment system, which currently hosts over 90 applications.
How do loans backed by MATIC works
Crypto-finance facilitates an uncomplicated avenue for debtors and creditees. Using cryptographic assets as security, borrowers can obtain credits in USDT, while retaining possession of their digital holdings. This eradicates necessities like credit investigations and documentation, accelerating the procedure and lowering costs.
Creditees have the opportunity to stash cryptocurrencies, such as Polygon (MATIC), in a specified account within Cropty’s platform. A designated custodian supervising the exchange between borrowers and lenders, provides assurances of a secure transaction. Their role as a reliable mediator ensures that the rights of both parties are safeguarded.
This system aids borrowers by providing them with access to capital without the requirement to offload their cryptos. During erratic shifts in the market, this platform serves as a bulwark against potential shortfalls as it eradicates the need for credit probes.
Meanwhile, lenders reap returns on their infusions via loan reimbursements, enabling profitable gains from their crypto assets. The arrangement champions a symbiotic relationship where both borrowers secure loans and lenders enjoy accrued advantages.
Overseeing borrower-lender relations, Cropty’s platform uses blockchain technology to guarantee safe operations devoid of intermediaries, mitigating deception risks and creating a secure lending ambience.
Polygon Loan Calculator
Crypto Loans explained
How to get a loan on Polygon? Borrow usd against Polygon on Cropty
The process of getting an Polygon cryptocurrency loan is quite simple. First, you need to create your account on Cropty, a platform that offers Polygon cryptocurrency lending services. Then, you need to provide your MATIC as collateral and specify the loan amount you want to borrow. The platform then evaluates your collateral and gives you access to the required amount of Tether USDT.
Your creditworthiness is determined based on the value of your collateral, making the process of getting a cryptocurrency loan fast and convenient.
However, it is important to remember that Polygon cryptocurrency loans are not without risks. In case you default on the loan, your collateral can be seized. Therefore, you should carefully assess your repayment capacity before taking out a cryptocurrency loan.
To authorize an Polygon Crypto Loan, you will need to go to Features tab → Loan section → Borrow button
Choose the required loan amount the terms and conditions of the crypto loan, and apply for it by confirming it with a code from 2FA - application or E-mail or Telegram-bot.
Learn more about MATIC Crypto Loans
Interest rates of loans supported by Polygon
At Cropty, we appreciate how crucial competitive loan rates are. This is why we extend loans backed by cryptocurrency at an appealing rate of just 9%. Our economical loans are a practical option for accessing liquidity without the need to sell off your precious cryptocurrencies, no matter if it's for personal or business use.
Cropty's crypto loans stand out due to the distinctive collateralization process. In case a loan default occurs, the MATIC collateral stays with Cropty, while the debtor retains the issued Tether USDT. This encourages a fair loan recovery system which favors both involved parties.
Cropty employs an automatic liquidation system to counter the risk associated with Polygon's value depreciation. Should the collateral's value drop below a certain point, the loan becomes subject to liquidation. This active prevention method safeguards both the lender and borrower against prospective losses stemming from market downturns.
We at Cropty prize honesty and lightness of use. Through our simplified interface, clients can expediently track their loan status. They are also granted the versatility to supplement their collateral, repay their loan prematurely, or settle the loan by returning the borrowed funds with any applicable interest charges.
Cropty makes acquiring cryptocurrency loans simpler. We offer instant coin loans where you may borrow against your Polygon to obtain Tether USDT. Our crypto-backed loans are designed to conveniently meet your monetary requirements in a timely manner.