Uniswap (the largest decentralized trading platform) has revealed that they have approved a governance plan to support Polygon’s blockchain.
Uniswap supports Polygon PoS Blockchain
Statistics show that Uniswap version 3 (v3) has the highest 24-hour trade volume at $1.5 billion. This is based on the trade volume of the previous day. Uniswap’s total-value locked (TVL), in defi, is $8.6B. That’s the second-largest TVL below Curve Finance’s $21.8 billion TVL. The official Uniswap Labs twitter account was launched on December 18. notifiedThe public has been notified that the Uniswap community voted in support of the Polygon (MATIC-network) deployment of Uniswap v3 contract.
“The Uniswap community has voted to deploy v3 on Polygon through the governance process. Uniswap Labs is expected to deploy Uniswap v3 contract within a matter of days. Stay tuned,” Uniswap Labs said on Saturday.
Uniswap is already using two layer-2 (L2) protocols, Arbitrum One & Optimism. The two protocols utilize optimistic rollups, which allows users to reduce transfer fees using the Etheruem network. While it is $31.74 to exchange tokens onchain via layer one (L1), swaps using arbitrum or Optimism cost $2.63 while swaps using the latter will cost $2.29.
Polygon’s CEO Mihailo Bjelic: ‘Polygon PoS Can Bring a Lot of Benefits to Uniswap’
Polygon’s CEO Mihailo Bjelic introduced the Uniswap proposal on November 20 as he said that “Polygon PoS can bring a lot of benefits” to the dex. Bjelic further insisted that “Polygon PoS is battle-tested,” and “Polygon is aligned with Ethereum and its values.” When Bjelic published the proposal, one supporter wrote: “I would love to see Uniswap v3 on Polygon chain. Fees for Ethereum [are]We are all just going to die. Polygon can be the battle-tested solution that saves users from being slow [transaction] and high fees.”
Polygon’s blockchain is integrated with several platforms, including Curve, Aave, Opensea, and Curve. Curve Finance however supports seven other blockchains including Avalanche. Fantom. Arbitrum. Harmony. And Xdai. Polygon has announced the launch of a fund worth $200 million to support social media using Web3 technology and blockchain technology. Additionally, Polygon acquired the Hermez Network. Polygon HermezPolygon purchased the Mir protocol for $250 Million in August.
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