Polygon and Shield Finance tie up for market protection

Karthik Subramanian

Polygon, the Layer 2 protocol on the Ethereum network that has been in the news over the last few months, and Shield finance have tied up to offer market protection contracts for Polygon.


Shield Finance has been working with various chains as a DeFi insurance aggregator to offer market protection contracts to users against hacks, exploits, sell-offs, and other black swan events. This is an innovation in the crypto industry that traders can make use of whenever they are worried about the risks involved in the market. The company continues to tie up with various insurance providers so that it can improve slippage and coverage as well.

Denis Gorbachev, CEO of Shield Finance, said: “Polygon is a strong, versatile network and we are excited to join forces with them. Polygon has a strong reach and we look forward to working together to find new ways to grow and to provide protection options for Polygon users against market crashes and price dumps”.

The company would deploy Polygon Market Protection contracts and this can be purchased by traders to protect themselves against any major fall in the prices in the market. MATIC token holders would then be able to sell off the MATIC tokens at a pre-determined price irrespective of what the price of the token is at that time in the market.

Arjun Kalsy, VP Growth of Polygon, said: “With defi primitives finding product-market fit as seen by the number of transactions, TVL,defi derivatives are bound to take centre stage with much more increased usage. Shield Finance is set to usher in new types of derivatives. Polygon Foundation is pleased to welcome the project to the thriving Defi ecosystem.”

Polygon would be placing a link for Market Crash Protection on their website under the decentralized options category which can be clicked on by the traders who want to make use of this option.

This is one more of the services that many companies have been extending to the Polygon network as it continues to grow steadily across the trader and developer community. Many startups have started building their solutions on the Polygon (MATIC) network over the last few months as the developer community waits for Ethereum to sort out its issues over gas fees and network congestion. This is expected to be resolved in version 2.o that is likely to be released next year and it would then help to grow the crypto ecosystem even more and advance it to the next level of growth and innovation.

Read this next

Retail FX

Financial Commission adds Ultima Markets to membership roster

Multi-asset brokerage firm Ultima Markets, operating under the trading name Ultima Markets Ltd, has been granted membership of the Financial Commission, marking the most recent inclusion into the ranks of the self-regulatory organization.

Digital Assets

Bitcoin hits fresh record high amid massive short squeeze

Bitcoin has surged to record highs against both the euro and the pound, hitting €60,447 and £51,736 respectively on Coinbase. The primary cryptocurrency has seen an almost 7% increase in the past 24 hours.

Digital Assets

US court rules crypto trades as securities in Coinbase case

A US court ruled that trading crypto assets on platforms like Coinbase constitutes securities transactions.

Market News

Weekly Data: Oil and Gold: Brief Review before the NFP

This preview of weekly data looks at USOIL and XAUUSD where economic data coming up later this week are the main market drivers for the near short-term outlook.

Institutional FX

FXSpotStream reports lower volumes for February 2024

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for February 2024, which moved lower on a monthly basis.

Fundamental Analysis

Global FX Market Summary: EUR, USD, Gold March 4th,2024

US Dollar Weakness: The US Dollar (USD) is currently struggling to gain strength due to a combination of factors.

Technical Analysis

Bitcoin Technical Analysis Report 4 March, 2024

Bitcoin cryptocurrency can be expected to rise further toward the next resistance level 69000.00 (former multiyear high from January)


Finding Opportunity in Challenge: Why New Regulations Offer a Chance For Business to Get on Top of Data Management

The combination of CESOP, PSD3 and the PSR, has put businesses under new pressures. In this engaging article, André Casterman, Senior Advisor at Intix provides invaluable guidance on how companies can stay ahead of the curve.

Institutional FX

Finalto launches Prime of Prime offering on LSEG’s FX Matching venue

“By combining our expertise in Prime of Prime services with LSEG’s robust trading platform, we aim to empower clients with the tools and resources needed to navigate the FX market with confidence.”