Metaverse Roadmap of Polytrade, now unveiled

Polytrade’s Vision for Metaverse Trade Finance

Polytrade, a leader in bridging real-world trade finance with decentralized finance (DeFi), leveraged its extensive expertise to outline a strategic vision for commerce in the Metaverse. With a history of financing over $500 million in real-world invoices for SMEs since 2014, Polytrade identified a parallel need for a seamless, decentralized protocol to govern transactions in the emerging digital economy.

The Core Vision: A Decentralized Commerce Layer

Polytrade’s stance was that for the Metaverse to reach its true potential, it must be built on Web3 principles of decentralization. The team envisioned a future where trade, commerce, and finance would flow seamlessly through this new digital reality. With its proven expertise in building blockchain-based trade finance solutions, Polytrade positioned itself as the ideal protocol to facilitate these enterprise-to-enterprise transactions.

Landmark Partnership with Polygon

A cornerstone of this initiative was the announcement that Polygon agreed to be the lighthouse customer for Polytrade’s Metaverse product.

This partnership was set to onboard Polygon’s vast network of suppliers and partners onto Polytrade’s systems, representing an annual transaction value of over $100 million. This collaboration provided a powerful real-world use case and a significant foundation for the platform’s growth.

The Four-Stage Metaverse Roadmap of 2022

The strategy was broken down into a four-stage plan, with clear objectives for each quarter of 2022.

Stage 1: Decentralized Vendor Management (Q1 2022)

• Objective: To create a unified, seamless platform for blockchain-native companies like Polygon to track and manage vendor payments.
• Features: The platform would streamline accounting, solve operational issues, and reward stakeholders for participation.

Stage 2: Governance and Staking (Q2 2022)

1. Objective: To enhance protocol utility and reward mechanisms.

2. Features:

• Integration of a governance council.
• Deployment of staking and insurance pools to increase $TRADE token utility.
• Launch of a first-of-its-kind “Earn while you pay” mechanism, allowing enterprises to monetize collateral committed to the lending pool.

Stage 3: Retail Integration and Gamification (Q3 2022)

1. Objective: To integrate pseudonymous identities and open up participation to retail users.

2. Features:

• Allowing retail users to contribute to lending pools.
• Introducing gamified elements where users could play games to earn NFTs, which would entitle them to higher APRs on their supplied liquidity.

Stage 4: API and Enterprise Integration (Q4 2022)

1. Objective: To enable broad, third-party adoption.
2. Features: The creation of APIs and endpoints would allow enterprises to connect their existing accounting and transaction systems directly to the Polytrade protocol.

Future Ambitions

Beyond the 2022 roadmap, the long-term vision included developing:

• A reputation management system to govern the credibility of pseudonymous entities.
• On-chain taxation mechanisms to adapt to evolving global regulations.
• NFT-based trading of tokenized invoices within the Metaverse.