• Written by: John Kaczur
• Thu, 23 Dec 2021
•   Russian Federation

After a drawn-out process, Uniswap deployed on Polygon just in time for the holidays. #Uniswap Comes to #Polygon, Sending #MATIC to Record #High. — Nima Abed? (@nimadows) December 22, 2021 Uniswap Labs announced today that its decentralized exchange has officially deployed on the layer-2 scaling solution Polygon. “As a leading scaling solution, Polygon offers low […] The post Polygon December Continues: Uniswap Deployed On Polygon appeared first on CryptosRus.

Polygon December Continues: Uniswap Deployed On Polygon

After a drawn-out process, Uniswap deployed on Polygon just in time for the holidays.

#Uniswap Comes to #Polygon, Sending #MATIC to Record #High.

— Nima Abed? (@nimadows) December 22, 2021

Uniswap Labs announced today that its decentralized exchange has officially deployed on the layer-2 scaling solution Polygon. “As a leading scaling solution, Polygon offers low gas fees and fast transactions, with over 3000 applications hosted and 1B transactions processed!” Uniswap said via Twitter.

Recommended: Three Top Projects On Polygon You Need To Check Out

• It’s another major moment for Polygon. So far in December, Polygon announced its purchase of the ZK roll up-specializing MIR protocol, a massive 200 million dollar fund with social media giant Reddit, a partnership for cross-chain esports with Yieldly, and an integration of the Opera Web Browser.
• Beyond just making deals with seemingly everyone in the crypto space, Polygon deployed their version of EIP-1559, making the community — who had been clamouring for it — very happy. The upgrade brings token burning to the chain.
• For Uniswap, this finally brings a solution to their longstanding issue with gas fees. Thanks to ETH’s gas fees, trading on the DEX has long been too prohibitive. With Polygon now, the iconic DEX can better compete with competing chains with relatively small fees.
• The move to Polygon doesn’t solve the issue of gas fees entirely. As we outlined in our article on the Polygon Bridge, Polygon users need to use WETH. And unfortunately, converting to WETH is still expensive.
• However, the big advantage is that once users have converted to WETH, any transactions they make in WETH will be very inexpensive. So that memecoin you wanted to buy 50 bucks of on a laugh now won’t cost you 200 dollars in gas fees.
• MATIC hit a new all-time high thanks to the deployment. The token traded as high as $2.66 USD today. The token previously hit 2.55 back in May of this year.

The post Polygon December Continues: Uniswap Deployed On Polygon appeared first on CryptosRus.