Decentralized exchange Uniswap launches on Polygon, sending MATIC to an all-time high

Decentralized exchange Uniswap and layer-2 blockchain company Polygon announced Uniwap is now available on Polygon, a technology built to ease some of the strain on Ethereum’s network.

Decentralized exchange Uniswap launches on Polygon, sending MATIC to an all-time high
Decentralized exchange Uniswap launches on Polygon, sending MATIC to an all-time high

Uniswap, the biggest decentralized application on Ethereum is governed by its users, mostly through their UNI token. In addition to deploying smart contracts on Polygon, its users voted to reduce transaction costs.

Mihailo Bjelic, the Polygon co-founder, said today in an announcement that, “With this deployment, Uniswap as the flagship Ethereum project returns back to the original promise and again offers low fees and open access to everyone.”

Uniswap is already running on two companions, or layer 2 systems, namely Arbitrum and Optimism. The firm estimates that approximately $62.19 million in value is locked on Arbitrum, and approximately $36.94 million is locked in Optimism. This comes nowhere close to Uniswap’s overall market cap of $8.75 billion on the Ethereum mainnet version.

Curve’s $22.23 billion in revenue, on the other hand, makes it the largest decentralized financial protocol. There are several blockchains and layer 2 systems that are currently supported by Curve, including Avalanche, Harmony, and Polygon read continue

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