The popular decentralised exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. has been implemented in Polygon in an attempt to attract more retailers.
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The popular decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. exchange Uniswap and the scaling systemEthereum a decentralized open-source blockchain with smart contracts functionality. Polygon said yesterday that all contracts for version 3 of the Uniswap are now implemented in the main network of Polygon.
This means that Uniswap is now available in Polygon . In other words, users of Uniswap can now exchange tokens using the blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. Polygon through the official interface of Uniswap.
The deployment comes a few days after the headlines of UNI vote to approve a governance in the world of cryptocurrencies, governance is defined as the people or organizations that have decision-making powers regarding the project. proposal that approves the deployment. It is worth remembering that last month, the co-founder of Polygon Mihailo Bjelic, submitted a proposal in the government portal of Uniswap to implement Uniswap v3 en Polygon. The community of Uniswap then voted to accept the proposal last week.
Following the news, the prices of MATIC de Polygon and token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. UNI de Uniswap went up. MATIC the native asset of the network Polygon reached a new all-time high of USD$2.69 at midnight last night, according to the records of CryptoMarkets . Now, at 5:30 am New York time, it has dropped a bit a bit is a basic unit of information in computing. and is at USD $2.59.
For its part, UNI has an increase of 8.71% in the last 24 hours, and a price of USD $16.57, which however is far from its best price of USD $44.96 achieved in May this year.
“Ethereum presented a noble vision of an open, borderless economic system accessible to all.” said Mihailo Bjelic, co-founder of Polygon , a CoinDesk. “With increased usage, Ethereum’s Layer 1 fees have” effectively “discounted most users.”
The version Polygon of Uniswap aims to change change — a concept relevant to cryptocurrencies that use the UTXO model — is the number of coins sent back to a user after they use their unspent outputs to initiate a transaction. that, he added.
“With this implementation, Uniswap as Ethereum’s flagship application returns to the original vision and again offers low fees and open access for all.” dijo Bjelic.
Uniswap and their numbers
As the largest DEX (decentralized exchange)A peer-to-peer exchange allowing users to trade cryptocurrency without the need for an intermediary. by trading volume, Uniswap is already implemented in two complementary or layer 2 systems, Arbitrum y Optimism . According to data from Defi a movement encouraging alternatives to traditional, centralized forms of financial services. Llama, around USD $62.19 million in value are locked up in Uniswap en Arbitrum while approximately USD $36.94 million worth of tokens are locked in the version Optimism .
Both numbers are much smaller than the total locked value (TVL) in the version of the main network a network refers to all nodes in the operation of a blockchain at any given moment in time. Ethereum de Uniswap USD $ 8.75 billion.
That said, the total locked value of Uniswap is behind the $22.23 billion of the $22.23 billion in Curve the largest decentralized finance (DeFi) protocol the set of rules that define interactions on a network, usually involving consensus, transaction validation, and network participation on a blockchain. by that metric. Currently, Curve supports multiple blockchains and Layer 2 systems, including Avalanche, Harmony y Polygon.
Bjelic, the co-founder of Polygon , dijo a CoinDesk que Uniswap will be a great success in Polygon, citing the network’s already successful DeFi ecosystem. Polygon is currently the number 7 channel by TVL, according to the data from Defi Llama.
A report from the blockchain data firm Chainalysis earlier this year said that DeFi is still dominated by experienced crypto traders and investors, in part because of the costly transaction fees on the blockchain Ethereum. Scaling projects such as Polygon have benefited from the congestion problem of Ethereum.
Sources: Coindesk , The Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. Crypto , CryptoMarkets , archivo
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