What is PolyQuity?
PolyQuity is a fork of the Liquity protocol in the Polygon network. PolyQuity has the features and benefits consistent with the Liquity protocol. In addition, based on the concept of Liquity, PolyQuity have designed a new tokenomics to adapt to the Polygon network.
What is PYQ Token?
PYQ is the secondary token issued by PolyQuity. It captures the fee revenue that is generated by the system and incentivizes early adopters.
1 Billion (1,000,000,000) PQY tokens in total
- PolyQuity Community:65.2%
- Top DeFi Coummunity:9%
- Marketing: 0.8%
- By staking Matic assets, Stablecoin (PUSD) of zero interest-fee is minted to improve capital utilization.
- Minimum collateral ratio of 110% — more efficient usage of deposited Matic
- Governance free
all operations are algorithmic and fully automated, and protocol parameters are set at time of contract deployment
- Directly redeemable
PUSD can be redeemed at face value for the underlying collateral at any time
- Fully decentralized
PolyQuity contracts have no admin keys and will be accessible via multiple interfaces hosted by different Frontend Operators, making it censorship resistant.
- Token (PYQ) holders can earn PUSD (Borrowing fee), Matic (Redemption fee) and PYQ (Tranfer fee).
How to buy PYQ in BYDFi?
Unfortunately, PYQ is currently unavailable in BYDFi. Once it comes to BYDFi, to get hands-on PYQ, you need to purchase USDT stablecoin from your preferred fiat currency like USD, CAD, AUD, JPY and more via BYDFi’s fiat gateway. Then, trade USDT for PYQ on the spot market.
Here’s a step-by-step guide:
1. Sign up or log in to your BYDFi account.
2. Click on the “Buy Crypto” to purchase USDT by selecting your preferred third-party service partner and complete the KYC process to proceed with the payment.
Select “Spot” to trade PYQ/USDT by go to the Spot Trading from the menu where you could trade these cryptocurrencies between one another.