First Multichain RWA Marketplace, Polytrade Expands to Base
Dubai, UAE, August 5th, 2024, Chainwire
Polytrade, a pioneering platform in the tokenization of real-world assets (RWAs), has recently announced its latest expansion to the Base blockchain, solidifying its position as the first multichain RWA marketplace with 10+ major chains. This comes right after its announcement of adding Arbitrum to its already existing stack of chains like Polygon, Ethereum, Plume Network, Kinto, Horizon EON, Manta, and Redbelly.
The protocol along with the Base chain has also onboarded RWA tokenization protocols native to the chain including Centrifuge Finance, Maple Finance, Clearpool Finance, Dinari Global, Nayms, Teller, Anzen Finance, Toucan Earth, and Mountain Protocol.
Furthermore, Polytrade is integrating embedded finance solutions such as RWA-backed collateralized loans and Buy Now, Pay Later (BNPL) options. These innovations will give the users greater financial flexibility allowing them to leverage their assets in new and meaningful ways and enhancing the platform’s accessibility and scalability.
“Polytrade’s expansion to the Base marks a significant milestone in our mission to create a thriving, interconnected ecosystem where users can explore and engage with a myriad of assets with real-world value. By integrating multiple chains and onboarding diverse protocols, we are creating a more inclusive and accessible ecosystem. The future is bright, and Polytrade is at the forefront of this journey,” said Piyush Gupta, Founder of Polytrade.
Polytrade’s growth is underpinned by strategic partnerships with global leaders and institutions. Their association with Mastercard has been instrumental in facilitating the adoption of real-world assets and the marketplace creator is a Mastercard Startpath member and one of the 2-3 applications building on Mastercard’s institutional Multi-Token Network (MTN) for large banks and institutions.
Recently, to celebrate the Copa America win, the protocol also announced the debut of a tokenized signed collectible boot of the legend Messi. This is a testament to its firm belief in bringing together the RWA industry, and Polytrade to date has partnered with more than 90+ protocols and continues to launch partnerships with chains, protocols, creators, and artists.
Users can check out Polytrade’s ecosystem: https://lnk.polytrade.finance/mgd
Despite still being in Beta Phase 2, Polytrade’s marketplace has shown significant traction. Recently the protocol revealed its first marketplace statistics and fee-related updates, with a $910,590 total volume / GMV generated and fees derived from a combination of primary and secondary fees which amounts to $10,354. These statistics highlight the diverse activity on the platform, with significant contributions from categories such as tokenized commodities, collectibles, and more.
Providing a solid backing to the ecosystem is the $TRADE token. $TRADE powers the Polytrade RWA ecosystem with versatile utilities including insurance pools, trading fees, and a fee value capture. It is listed on prominent exchanges such as Kucoin, Gate, Mexc, XT.com, and decentralized platforms like Uniswap and Quickswap. Additionally, $TRADE can be borrowed against Timeswap. With a total supply of 100 million tokens, 50% of $TRADE is locked until 2028, ensuring long-term stability and value.
Users can learn more about $TRADE: https://lnk.polytrade.finance/26d
About Polytrade
Polytrade stands as the premier global gateway to tokenized Real-World Assets (RWAs). With the support and partnership of industry leaders such as Mastercard, Polygon, Alpha Wave, and Matrix Partners, Polytrade’s marketplace consolidates a diverse array of assets—ranging from tokenized T-bills, credit, stocks, and real estate to commodities, collectibles, art, IP, creator royalties, and luxury goods—from all chains onto a single, unified platform.
Utilizing its proprietary RWA-focused ERC-6960 technology, Polytrade empowers users with the ability to discover, trade, fractionalize, cross-chain bridge, and leverage their RWAs. This innovative approach not only enhances accessibility and liquidity but also unlocks a multitude of opportunities for users to maximize the potential of their real-world assets.
