Proposal
Cyclone protocol doesn’t stop at ETH, BSC and IOTX. To become truly cross-chain protocol, I propose to launch Cyclone Protocol on Polygon mainnet as the next priority cross-chain platform. The motivation for the proposal is to make cyclone protocol even more accessible to more targeted audience especially retail investors. As far as I noticed, due to slower transaction and higher gas fee, the ETH mainnet is not friendly to those whom have smaller capital to experience the DeFI. Another concern CYC holders has is very less people know about cyclone protocol. If cyclone protocol can be endorsed by the polygon official team, that would be a win-win situation for both parties where cyclone protocol gains more exposure while enriching the polygon ecosystem.
Why Polygon mainnet?
There are few reasons behind the launch of cyclone protocol on Polygon mainnet.
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As today, the total TVL on Polygon has exceeded 5 Billion. Besides, polygon mainnet is supported by major DeFI OG like AAVE, curve, sushiswap and more are announcing new integration to the Polygon. There are more and more quality DeFI building on Polygon at rapid pace.
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There is no priFI protocol on the net yet so this will be good for cyclone protocol to establish its first presence and attract new early adopters to the concept of cross-chain privacy yield aggregator enhancement utility.
How to implement the Cyclone Protocol on Polygon
- Collaborate with additional crosschain bridge protocol
As now I see Cyclone Protocol is relying on iotube for the cross chain bridge between iotx, eth, and bsc. This is good at the moment. I would propose to work with other existing bridge like the official matic wallet v2 bridge (https://wallet.matic.network/) to add CYC token for ETH-MATIC route. This would enhance the flow of CYC across the chains. The other bridge platform is https://www.xpollinate.io/ for BSC-MATIC directly, however, they only have DAI, USDC, USDT options at the moment.
Last but no least, I am big fan of CYC and always believe privacy is needed to preserve on blockchain. So I urge the other CYC holders would stand in line with me and make it happen for a DAO proposal. Again welcome feedback and discussion to the proposal.
Cheers, Go CYC!
