Uniswap V3 Contracts goes to polygon live, Matic sneaks towards ATH

uniswap V3 contracts provided on polygon

According to polygon, the provision of uniswap on polygon was considered important for three main reasons. The first is that it recognizes the value of polygon in the Ethereum ecosystem in addition to the progress made this year.

The Sidechain houses 126 million users and over 3,000 applications, including Aave, Curve, 0x, balancer and 1 inch. It has made it possible for 1.22 billion transactions over the course of its lifespan and also went through several integrations. The Total Value Locked (TVL) from Polygon is currently $ 5.2 billion. At some point this year the number of active addresses on polygon transferred that from Ethereum.

The above-mentioned achievements, according to Polygon, are the result of "thousands of hours of tireless work and the steadfast support of the entire Ethereum community". Therefore, the provision of uniswap, the top etherum application, is a strong recognition of these exploits.

Secondly, the step brings back the "original promise" from Ethereum to the crypto community-"a great vision of an open, limitless economic system that is accessible to everyone". Layer-1 from Ethereum was plagued by high transaction fees, which limits its benefits to large token owners and transactions with high value. This has counteracted the goal of inclusion and democratization. Polygon offers open user access, relatively lower fees and almost immediate transactions that all benefit uniswap.

after all, the development strengthens the position of polygon in the decentralized financial (defi) ecosystem. As the above-mentioned network growth statistics prove, polygon according to Ethereum Layer-1 is the second largest defi ecosystem in the industry. The addition of uniswap helps to maintain this reputation, especially since the Dex in Defi is considered a "money-lego".

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Another reason for the introduction of uniswap on polygon are the numerous possible applications that result from the cooperation. This includes more efficient price determination, the new weighting of centralized stock exchanges (CEX) and much more. It is also expected that the shift attracts more users.

It is noteworthy that polygon has provided $ 20 million of financial incentives for the initiative. Of these, $ 15 million are used for long-term liquidity mining, while $ 5 million are reserved for the general introduction of uniswap to polygon.

Matic was rated $ 2.64 at the time of going to edit, only a few cents under his all-time high of $ 2.70. The token has also risen by 24.3 percent during the week and 69.3 percent last month.