Polygon (MATIC) now powers the RobinHood of Crypto

Karthik Subramanian

SmartDefi, which calls itself the RobinHood of crypto as it wants to truly democratize and bring in lots of users into the crypto trading market, has been built on the Polygon (MATIC) network and proposes to launch in Q2, 2021.


The platform is an easy-to-use mobile app which is non-custodial and it hopes to fulfill the needs of those investors who want to enter into the Defi market but do not know where to start and also are worried about losing their funds. It solves this problem by making DeFi investments very simple so that users can easily onboard on to the app without any major or complex procedures and can proceed to buy risk-adjusted DeFi products using their bank account, credit card, or Apple Pay accounts.

‘In 2017 users were called crazy for investing in crypto. Even 2 years ago, it was ‘crypto is a scam’. Then, the narrative shifted to ‘Ok. I want in. How do I passively invest 1-5% of my portfolio in DeFi?’. This shift is why we built SmartDeFi and the DETF products.’ – Kieran Daniels | Co-founder, CEO SmartDeFi.

This app is the first consumer app to be built on the Polygon network which has been growing strongly in recent times and has also exceeded Ethereum in the number of daily transactions in the network. This is indeed a significant achievement for the company as it continues to build on the network and works to reduce the gas fees and also make the network reliable so that it can continue to be the network of choice for the users and developers even after Ethereum releases its version 2.0.

The Smart Defi infra is powered by Idle Finance, Gnosis Wallet (which is a multisig wallet), Polygon Network (which is a Layer 2 solution), Wyre, and Torus Labs. A combination of all these Web3 products helps to create a smooth onboarding and purchase process for the users so that they can easily buy risk-adjusted DeFi assets. It remains to be seen whether this would help to boost the transaction levels and the number of users in the Polygon network and whether it can continue to challenge Ethereum in the long run. The network is seeing multi-platforms and Dapps getting built on it on almost a daily basis as the developers and users discover the ease of use and the low gas fees as something that is very tempting.

Read this next

Digital Assets

SEC apparently approved Ether ETF as VanEck’s listed by DTCC

Amid increasing speculation about the possible approval of a spot Ether (ETH) exchange-traded fund (ETF) in the United States, global investment manager VanEck’s ETF has been listed by the Depository Trust and Clearing Corporation (DTCC) under the ticker symbol “ETHV.”


Unlocking Investment Potential: Introducing MoonBag Presale, the Cryptocurrency Set to Surpass ApeCoin and Bitbot

Discover MoonBag Presale, the cryptocurrency set to surpass ApeCoin and Bitbot. Unlock your investment potential now!


Playtech sees promising growth despite dispute with Caliplay

Gambling technology group Playtech plc (LSE: PTEC) reported solid financial results for the four months to April 30 as B2B growth and Snaitech’s record performance pushed it towards large gains in revenue.


Multipool Launches LBP on Fjord Foundry Raising $200k in 24 Hours

Multipool, a leading innovator in the blockchain and cryptocurrency industry, launched their Fjord Foundry LBP on May 21st, raising $200k in the first 24 hours.


$BEER, a New Solana-Based Memecoin completes Pre-Sale of 30,000 SOL this week

The Liquid Gold, $BEER, has become the most discussed topic on Solana over the past two weeks. $BEER has skyrocketed into Twitter trends across Europe & Asia, captivating beer lovers worldwide.

Digital Assets

Hong Kong regulator orders Worldcoin to cease operations over privacy concerns

Hong Kong’s privacy regulator has ordered Worldcoin Foundation to cease all operations of its cryptocurrency project in the city, citing risks to privacy and personal data.

Inside View

MT4 vs MT5: Which Should You Choose for Crypto Trading?

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are two sophisticated trading platforms developed by MetaQuotes Software. Although MT4 is the more widely adopted choice, traders must determine which platform is better suited for them and understand the reasons behind this choice. Here’s everything you need to know.

Digital Assets

Intentable.io Launches Intent-Centric Architecture and Marketplace

Discover how Intentable.io, formerly Kiroboflow, is revolutionizing blockchain interactions with its Intent-Centric Architecture and new marketplace for intent-based strategies.

Digital Assets

Crypto ETFs, retail trading spike as Bitcoin nears record highs

BlackRock’s spot bitcoin exchange-traded fund (ETF), which trades under the ticker IBIT on Nasdaq, saw a record amount of cash injection after a quiet few weeks of net outflows. The healthy metrics came as bitcoin briefly traded above the $71,000 level for the first time in a month.