The leading Ethereum scaling solution, Polygon has launched an incentive for core Ethereum developers at ProtocolGuild. It plans to reward developers with the new zkEVM DAI contract using DSR yield.
Polygon has pioneered the initiative in partnership with developers including Phoenix Labs, Hexens, and The LLamas.
With the announcement, Polygon has introduced the L2 DAI contract on every LxLy chain, an interchain protocol that is used by Polygon zkEVM. This contract will use DAI to earn yields from MakerDAO’s Dai Savings Rate (DSR).
“All DSR yield earned by the deposits is sent to @ProtocolGuild to support core Ethereum Developers, who build the core foundational software we all use,” reads the announcement.
The L2 DAI contract is built by Sepyke and it will use Phoenix Labs sDAI wrapper to deposit DAI into DSR. The contract is audited by Hexens.
“The Polygon ecosystem is sustainably funding the continued development of Ethereum via ProtocolGuild.” said Sandeep Nailwal, the co-founder of Polygon, adding “By leveraging MakerDAO’s DSR, interest from the DAI bridge will go to the developers who build all of the core ethereum tooling that all EVM chains rely on.”
As built on top of Ethereum, Polygon aims to fund the foundation of Ethereum development and keep it sustainable for the long term.
“We hope that other L2 teams that use Ethereum as a foundation follow our values in helping ensure we sustainably fund Ethereum development for the long term.” said Sandeep.
Also read: India’s NPCI Launches Blockchain-Backed Project: Falcon
