Uniswap V3 Launches on Polygon (MATIC) to Offer Users Cheaper Transactions
With the growing popularity and number of users of decentralized finance (DeFi) continue to increase, Ethereum-based DeFi protocols such as Uniswap, Bancor and others have become less accessible to ordinary users due to high fees even for elementary actions in networks. The Polygon team has successfully integrated Uniswap V3 into the Polygon ecosystem to simplify the use of systems.
The introduction of Uniswap V3 Decentralized Exchange and Automated Market Maker (AMM) became possible after a successful voting process in the Polygon ecosystem, and the application received more than 72 million YES.
In the blog of Mihailo Bjelic from Polygon, a post appeared describing the introduction of Uniswap V3 on Polygon as an important new round for the Polygon and Etherum ecosystem. He also noted that there was a noticeable growth in the Polygon network after the beginning of November, when Uniswap was introduced. The number of active users increased to 126 million, transfers, applications and total amounts increased to 5.2 billion dollars.
His team also believes that Uniswap in the Polygon ecosystem will once again make Ethereum a comprehensive system, with numerous users and a wide range of financial services. Which will definitely affect the global economy and society as a whole. With the introduction of Ethereum Layer1, commissions have become less high. Using Ethereum applications has become more convenient for those who have a lot of tokens in their account and transactions with high prices. Uniswap, as the flagship project of Ethereum, helps to bring back low fees and the system’s accessibility.
The latest change had a positive impact on the value of MATIC, which reached a new historical high of 2.709 on December 23, 2021. According to CoinMarketCap, MATIC is currently trading at a price of about $ 2.53, and the market capitalization is $ 17.90 billion.