Key Takeaways
- The long-established decentralized alternate Uniswap has been deployed on Polygon, a Layer 2 network for Ethereum.
- The proposal passed with over 99% of the vote, and $2.4 million has already been locked in Uniswap’s Polygon deployment.
- Polygon’s MATIC token hit an all-time excessive of $2.66 this present day.
Uniswap, one of Ethereum’s greatest decentralized exchanges, has been deployed on Polygon.
Uniswap Now On Polygon
Uniswap, one of many splendid decentralized exchanges on Ethereum, has launched on Polygon.
Polygon founder Mihailo Bjelic favorite this present day that Polygon has the “second strongest DeFi ecosystem” after Ethereum itself. “Polygon has been exponentially increasing by somewhat mighty all valuable metrics,” he noticed, adding that Polygon boasts 126 million customers, 1.22 billion transactions, and $5.2 billion in locked price.
In his authentic Uniswap proposal, Bjelic moreover acknowledged that Polygon is “aligned with Ethereum and its values” and “battle-examined.” He favorite advantages including that you may per chance per chance well imagine savings for customers and acknowledged that Polygon can encourage “return to the authentic DeFi vision.”
Bjelic moreover acknowledged that Uniswap may per chance well well incentivize adoption and will bear to gentle commit up to $20 million toward that discontinuance. That quantity entails $15 million particularly for liquidity mining rewards.
Uniswap holders voted to pass the proposal on Dec. 18 with 99.3% enhance. 72 million votes were in desire of the proposal, while about 500,000 votes were against the proposal.
Ethereum Dominates Uniswap Deposits
Ethereum has historically been tormented by excessive charges and long transaction times. Although Ethereum 2.0 targets to resolve these points within the waste, Polygon, as a Layer 2 network, can offload some of these transactions within the period in-between.
Despite its points, Ethereum nonetheless dominates Uniswap deposits and accounts for $4.3 billion in locked price. Diverse Layer 2 networks on which Uniswap has been deployed bear attracted critically much less—Arbitrum and Optimism bear handiest brought in $62.3 million and $36.9 million in locked funds, respectively.
Uniswap’s Polygon version for the time being has attracted appropriate a little bit of these amounts, with $2.9 million locked. It seems most likely that this amount will grow within the approaching days and weeks.
Polygon Positive components Recognition
This day’s news arrives appropriate as web browser firm Opera introduced that this would per chance per chance enhance decentralized applications on Polygon.
It moreover comes days after Reddit co-founder Alexis Ohanian’s VC firm introduced a $200 million fund for social media and Web3 pattern, which is able to be equipped in conjunction with Polygon.
Polygon’s MATIC token is for the time being the 14th greatest cryptocurrency, boasting an $18 billion market cap. Files of the Polygon birth correlated with MATIC costs reaching an all-time excessive this present day of $2.66.
Disclosure: On the time of writing, the writer of this fragment owned BTC, ETH, and other cryptocurrencies.
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