With the Uniswap integration and Opera connection, Polygon is making a rapid end-of-year spurt. The MATIC price reacts with a new all-time high.
As of yesterday, it was clear what UNI token holders voted for last week: Uniswap, the largest decentralized exchange (DEX) in terms of trading volume, is now connected to Polygon. All Uniswap V3 contracts are already implemented in the Polygon Mainnet, as the team said in a blog entry writes. The integration of the largest DEX on Polygon should pay off for users who will benefit from far lower transaction fees in the future. The proposal was submitted on November 20th and went through the three stages of Uniswap’s governance process. 72 million UNI holders voted for the proposal.
Connection to Uniswap and Opera
The idea behind Ethereum was an open, inclusive and decentralized economic system. Open yes, decentralized too, but inclusive? In terms of transaction fees, the largest decentralized finance network (DeFi) appears to have missed this target. Currently are loud bitinfocharts Average fees of $ 25 for a transaction on Ethereum. Not exactly cheap. The reason for this is a high network load, which allows Ethereum to operate permanently at the load limit.
As a layer 2 scaling solution, the blockchain polygon based on the Proof of Stake consensus procedure takes the pressure off the Ethereum network. Polygon works through commit chains – networks that bundle and process transactions before they are transferred to the Ethereum mainchain. This allows a higher transaction throughput and, as a result, lower fees. According to co-founder Mihailo Bjelic, the Uniswap connection to Polygon is therefore also a “return to the original promise of Ethereum” – a financial system that is open to everyone.
At the same time as the Uniswap connection, the Polygon team also provided the integration into the Opera browser known. The connection planned for the first quarter of 2022 connects the Polygon Blockchain to Opera’s “Web3-enabled browser and its integrated crypto wallet on Android”. As a result, “potentially millions of users would be embedded in Polygon’s ecosystem of decentralized apps (dApps)” and would have access to over 3,000 dApps in the Polygon network, including Sushiswap, Curve and Aave as well as blockchain games such as Decentraland or TheSandbox and NFT platforms such as Opensea.
Polygon (MATIC) at record high
Intoxicated by the latest announcements, the polygon token MATIC crowned itself with a fresh record high at the end of the year. In the early hours of the morning, the MATIC price reached a new record high of 2.70 US dollars and thus closes an extremely successful 2021. In a year-on-year comparison, MATIC, which was at 0.017 US dollars at the beginning of January, is now over 14,000 percent up.