Sukanshi | Coinshift
Sukanshi | Coinshift
Nov 25, 2022 5:29:18 AM

Coinshift is live on Polygon!

Many users have asked us about our multi-chain strategy, as DAOs and other crypto organizations expand their operations outside the Ethereum mainnet. Rising gas fees are usually given as the primary reason, but DAOs are also interested in the growing number of investment options that now exist on other chains. We are very excited to announce that today we are officially launching support for Polygon!

During the past few months, our engineering team has been working incredibly hard to bring Coinshift’s leading DAO Treasury Management tools to Polygon, including mass payouts, transaction tagging, token swapping powered by Paraswap, resource management, unified reporting, and much more! 🔥🚀

Coinshift’s launch on Polygon should dramatically lower gas costs for users and provide high transaction throughput. This adds to Coinshift’s value proposition to provide a smart treasury management solution for DAOs and other decentralized organizations.

Coinshift has seen incredible growth since launching its Payouts solution on Mainnet in mid-Q2 of 2021, with over 1.2 billion USD in assets being managed through Coinshift, and around 40 million USD in transactions processed. With the launch on Polygon, we only see these numbers increasing going forward.

The number of Gnosis safes on Polygon has been growing quickly after launching just a few months ago. Currently, there are over 6,000 Gnosis safes on Polygon, a number that is increasing by over 50% each month. And Gnosis helps its users on Polygon process around 8,000 transactions per month. Launching on Polygon was the natural step in our quest to build the world’s most sophisticated and innovative treasury management solution on top of Gnosis Safe.

As we build out our core Treasury Management functionality, we will rely heavily on partners to complement and expand our solution. As an example, we are partnering with Superfluid, a real-time money streaming protocol, to enable DAOs to stream salaries or recurring payments in real-time, directly from the Coinshift dashboard. This will be available to all our users on Polygon from March.

We’ve also integrated ParaSwap’s leading DEX aggregation protocol into Coinshift. This allows users to swap tokens from within our interface, saving time and gas fees via multi-path routing. And, of course, you can apply labels and notes to each transaction.

With millions of developer hours dedicated to building an incredible ecosystem of apps for DeFi, gaming, social media, and much more, we’re very positive Ethereum is here to stay. But we strongly believe in a multi-chain future, and Polygon is the key first step in our strategy. Our engineers are brewing coffee 24x7 for a multichain world at Coinshift HQ, do stay tuned for more!

Have fun exploring, and let us know what you think!

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About Coinshift

Coinshift aims to build the most sophisticated crypto treasury management platform for companies & DAOs. We aim to provide complete data transparency to DAOs by building a shared data layer on top of IPFS & Filecoin.

About Polygon

Polygon is the first well-structured, easy-to-use Ethereum scaling and infrastructure development platform. Its main component is Polygon SDK, a modular framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc., and Standalone Chains like Polygon POS, designed for flexibility and independence.