Leading decentralized exchange Uniswap officially deployed on Polygon, Matic surges and hits a new high!
The well-known decentralized exchange Uniswap announced yesterday, 22nd, that Uniswap v3 has been officially deployed on the Polygon mainnet. Following the news, the native token of Polygon, Matic, briefly reached a new all-time high.
1/ We're excited to announce v3 has been deployed on @0xPolygon! ๐จ
As a leading scaling solution, Polygon offers low gas fees and fast transactions, with over 3000 applications hosted and 1B transactions processed! ๐ pic.twitter.com/bzRRkqDJuk
โ Uniswap Labs ๐ฆ (@Uniswap) December 22, 2021
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Uniswap deployed on Polygon Mainnet
Last month, Polygon co-founder Mihailo Bjelic proposed on the Uniswap governance site to deploy Uniswap v3 on the sidechain Polygon. The results of the vote were announced last week, with the proposal receiving support from over 72 million UNI token holders and the deployment was completed yesterday.
Prior to this, Uniswap had already been deployed on two L2 systems, Arbitrum and Optimism, with total value locked (TVL) of approximately $61.3 million and $36.6 million, respectively, according to data from DeFi Llama. However, these figures are significantly lower compared to the $8.64 billion TVL on Ethereum.
Matic and UNI Surge
According to CoinMarketCap, following the announcement, Polygon's native token Matic surged and even reached a new all-time high of $2.7. Meanwhile, Uniswap governance token UNI also saw growth, reaching $17.
"Ethereum has the noble vision of building an open, borderless, and inclusive economic system, but as usage grows, the cost of using L1 effectively excludes many users. With this deployment, Uniswap will once again be open to everyone and provide low transaction fees," said Mihailo Bjelic.
According to data from DeFi Llama, the TVL on Polygon is approximately $5.2 billion, ranking 7th among all blockchains.
