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Uniswap Community votes to provide v3 on Polygon, contract support will come in a few days – Defi – Crypto News

One of the largest decentralized exchange (Dex) platforms in terms of trading volume, Uniswap, has announced that the dex community has approved a governance proposal in support of the polygon blockchain.

Uniswap to support Polygon PoS blockchain

In terms of trading volume, the statistics show that Uniswap version three (v3) has the largest 24-hour trading volume with $ 1.5 billion exchanged during the last day. As far as Total-Value Locked (TVL) is concerned in defi, Uniswap has $ 8.6 billion on December 19, 2021. That is the second largest TVL under Curve Finance’s $ 21.8 billion. On December 18, the official posted a Uniswap Labs Twitter account notified the public that the Uniswap community has voted in favor of the deployment of Uniswap v3 contracts on the Polygon (MATIC) network.

“The Uniswap Community has voted to deploy v3 on Polygon as part of the governance process. Uniswap Labs are deployed to Uniswap v3 contracts within a few days. Stay tuned, ”Uniswap Labs said on Saturday.

Uniswap has already adopted two Layer 2 (L2) protocols, including Arbitrum One and Optimism. Both protocols take advantage of optimistic rollups so users can save on transfer fees when using the Etheruem network. While states that it costs $ 31.74 to exchange tokens onchain via Layer-One (L1), swaps with Arbitrum cost $ 2.63, and swaps with Optimism cost $ 2.29.

Mihailo Bjelic, CEO of Polygon: “Polygon PoS can bring many advantages Uniswap ‘

Mihailo Bjelic, CEO of Polygon, introduced the Uniswap proposal on November 20th when he said “Polygon PoS can bring many benefits” for the dex. Bjelic went on to insist that “Polygon PoS is battle-tested” and “Polygon is aligned with Ethereum and its values”. When Bjelic published the proposal, there was a supporter wrote: “I would like to see Uniswap v3 on polygon chain. ETH Fees [are] just kill us all. Polygon is the battle-tested solution that slow users down [transaction] and high fees. “

The Polygon blockchain has been integrated with a number of platforms such as Curve, Aave and Opensea. However, Curve Finance supports seven different blockchains, which also include Avalanche, Fantom, Arbitrum, Harmony, and Xdai. Polygon recently revealed launched a $ 200 million fund to empower social media with Web3 and blockchain technology. In addition, after purchasing the Hermez network (now Polygon Hermez) for $ 250 million in August, Polygon Paid $ 400 million for the Mir protocol.

What do you think about Uniswap supporting the polygon network? Let us know what you think on this matter in the comments below.

Jamie Redman

Jamie Redman is the News Lead at News and a Florida-based financial tech journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. As of September 2015, Redman has written more than 4,900 articles for News on the disruptive protocols emerging today.

Photo credits: Shutterstock, Pixabay, Wiki Commons

Source: Crypto News Austria

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