Polygon’s MATIC is now available on Pillow: Earn up to 20% APY on MATIC

June 10, 2022
Product

Ever since our launch, our users from across the globe have been requesting a yield product with the Polygon MATIC token. The wait is finally over! Pillow is excited to officially launch the Polygon MATIC case starting today. Apart from being able to buy and deposit MATIC with a few clicks, users will be able to enjoy a promo interest rate of up to 20% on MATIC for the first 30 days. Keep reading for more details!

Check out how you can deposit MATIC on Pillow:

  • Buy MATIC using INR within the app (for Indian users)
  • Already have MATIC? Transfer it from your exchange / wallet

Once deposited, your MATIC will start generating up to 20% APY automatically!

Earn on MATIC case at Promo Rates:

Polygon’s MATIC joins Pillow with a special offer: Until 10th July, 2022 you get 20% APY (up to 8.5% liquid staking yield, along with an additional 12% boosted yield up to the first 500 MATIC), paid out daily. After the promo period ends, you’ll continue earning the regular liquid staking interest rates up to 8.5% on the MATIC case.

E.g. Until 10th July, 2022, if you have 800 MATIC invested

  • You earn up to 20% APY on 500 MATIC
  • You earn up to 8.5% APY on the balance 300 MATIC

After 10th July, 2022, you earn up to 8.5% APY on 800 MATIC.

About the MATIC case:

  • The MATIC case gives you a seamless way to stake your MATIC without the hassles of setting up your own wallet, buying MATIC, bridging, staking and gas fees.
  • Variable Interest Rates: Through the MATIC case, Pillow is introducing users to the world of liquid staking and variable rates! MATIC case interest rates are variable and will reflect the rates of the underlying protocols in real-time.

How are the yields getting generated?

Pillow’s expert team has done the research for you so that you don’t have to — partnering with the industry-leading liquid-staking service providers: Lido Finance and Stader Labs.

Pillow leverages the power of liquid-staking technology to generate returns for the MATIC case. Liquid staking provides users with all the benefits of self-staking without the associated risks and complexities — it provides a viable alternative to both self and exchange staking.

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About Polygon’s MATIC:

Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions, sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 3000+ applications hosted, 1.5B+ total transactions processed, ~135M+ unique user addresses, and $5B+ in assets secured.

Polygon has partnered with some of the biggest platforms in the world including the likes of Meta’s Instagram and Opensea for NFT, thus boosting the NFT marketplace immensely. As of today, more NFTs are sold on OpenSea Polygon than Ethereum.

MATIC is the network’s native cryptocurrency, which is used for fees, staking, and more. You can buy or sell MATIC via centralized or decentralized exchanges.

About Liquid Staking:

Liquid staking protocols allow users to earn staking rewards without locking assets or maintaining staking infrastructure. Users of these protocols can deposit staking tokens and receive tradable liquid tokens in return.

Liquid staking manages to seamlessly balance risk, reward and сonvenience, allowing users to trade staked tokens without the firm requirements that prohibit stakers on the Polygon network.

About Stader Labs:

Stader offers the most convenient and safest way to maximize your returns on staking by allowing for liquid staking (staking your tokens without any lock-ins and being able to use the staked token further in DeFi).

Stader has raised $30M including from top global VCs such as Three Arrows Capital, Accel and others. Their smart contracts are double audited by leading security firms to ensure the security of staked tokens. Stader manages around $60M in TVL across multiple blockchains.

Stader aims to build an economic ecosystem to grow and develop solutions such as yield redirection with rewards, liquid staking, launchpads, gaming and more.

About Lido:

Lido is a liquid staking solution backed by industry-leading staking providers. Lido lets users stake tokens — without locking assets or maintaining infrastructure — whilst participating in on-chain activities, e.g. lending.

Lido has raised $70M from Andreessen Horowitz, one of the top venture capital firms. Their smart contracts are audited by popular security firms including Quantstamp and Sigma Prime.

Lido is the leading liquid staking protocol and the second-largest DeFi protocol with a TVL of $7.5B and has been integrated across a number of DeFi protocols.

About Pillow:

Pillow is an investment app that allows users to earn the best interest on their crypto via DeFi with none of the associated hassles. Pillow offers the best-in-market interest rates on stablecoins and blue-chip assets like Bitcoin, Ethereum and Matic.

Pillow has raised $3M in seed funding led by Elevation Capital and a host of prominent crypto angels, including Scott Lewis (Co-founder, DeFi Pulse), JD Kanani & Sandeep Nailwal (Co-founders, Polygon), Prabhakar Reddy (Co-founder, FalconX), and Aniket Jindal (Co-founder, Biconomy) and industry stalwarts like Ramakant Sharma (Livspace), Farid Ahsan (Sharechart), Kush & Sambhav (FamPay), Mukund Jha (Dunzo) amongst others.

Pillow aims to democratize the benefits of decentralized finance to 100M+ users across the globe, thus allowing its users to earn yield on crypto in a simple, safe and secure manner.

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