Uniswap (UNI) V3 is now available on the Polygon (MATIC) following a hugely successful governance vote concluded on December 18. With Uniswap V3 now live on Polygon, DeFi market participants will now enjoy cost-efficient token swaps and liquidity mining on the network.
Uniswap Deployed on Polygon (MATIC)
As decentralized finance (DeFi) continues to grow in popularity and user base, Ethereum-based DeFi protocols such as Uniswap, Bancor, and the rest, are increasingly becoming inaccessible for the average joe due to the exorbitant transaction fees charged for even the simplest activities on these networks.
In a bid to foster financial inclusivity and make it easier for just anyone to enjoy the dividends of decentralized finance, the Polygon team has successfully integrated Uniswap V3 into the Polygon ecosystem.
The deployment of the Uniswap V3 decentralized exchange and automated market maker (AMM) was made possible after a successful voting process by members of the Polygon ecosystem, with the proposal receiving more than 72 million YES votes.
Big Milestone for Polygon and Ethereum
In a blog post released on December 22, 2021, Polygon’s Mihailo Bjelic described the deployment of Uniswap V3 on Polygon as another big milestone for the Polygon ecosystem and Etherum at large.
Bjelic has revealed that the Polygon network has witnessed exponential growth since announcing its intention to integrate Uniswap into the platform earlier in November, both in terms of the number of active users (126 million), transactions, applications, and total value locked ($5.2 billion).
What’s more, the team has made it clear that it firmly believes that the presence of Uniswap in the Polygon ecosystem will return Ethereum to its original vision of fostering financial inclusion.