Teller Finance, a not-collateral lending protocol for the decentralized finance (DeFi) market, has officially deployed its mainnet on Polygon, marking a significant milestone in its quest to offer scalable user-friendly solutions.

With the launch of Teller'due south Polygon mainnet, users can begin making deposits and funding liquidity pools immediately, the visitor disclosed Tuesday. The Teller protocol continues to be available for use on the Ethereum (ETH) mainnet.

Teller's Polygon deployment is role of a broader strategy to widen the mainstream appeal of digital avails without the bottlenecks of slow transaction speeds and college fees. Teller's CEO, Ryan Berkun, credited the success of DeFi to Ethereum, but besides noted an immediate need to address some of the network'due south shortcomings. He explained:

"Teller wants to remain blockchain doubter and [Ethereum Virtual Machine] compatible, but bookkeeping for immediate network issues with Ethereum is pivotal for our mission [...] Ethereum scaling solutions similar Polygon allow projects similar ours to apace port Ethereum solutions onto a scalable network that solves many of our concerns around network costs and rising gas fees."

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As part of the Polygon port, Teller has migrated two,200 nonfungible tokens, or NFTs, worth over $15 million to Polygon. The auction of these so-called Fortune Teller NFTs generated 5,096 ETH from over 1,300 unique buyers during the month of March.

The NFT market place has reached truly ballsy proportions in recent months, with investors shelling out millions of dollars for CryptoPunk collectibles. The latest craze appears to be pet rock NFTs, with at least one EtherRock selling for 45 ETH, worth roughly $139,000 at the time of writing. Currently, the most expensive EtherRock is listed at an heart-watering $i.9 billion.

Related: Tales from 2050: A await into a world congenital on NFTs