Uniswap, the #1 Ethereum App, Is Live On Polygon
Another big milestone for both Polygon and the wider Ethereum ecosystem.
Uniswap is live on Polygon!
On November 20, Polygon submitted a proposal to deploy Uniswap to Polygon. The proposal successfully went through all three phases of the Uniswap governance process, and 72M+ UNI holders supported it! We are truly humbled and grateful to the whole Uniswap community for this level of support.
All Uniswap V3 contracts are now deployed to the Polygon PoS mainnet, and Polygon is already supported in the official Uniswap interface.
This deployment is very important for at least three major reasons, which we will briefly cover here.
Major acknowledgment for Polygon
Ever since the announcement earlier this year, Polygon has been exponentially growing by pretty much all important metrics:
Number of users/wallets (currently at 126M);
Number of transactions (currently at 1.22B);
Number of applications (currently at 3,000+);
TVL (Total Value Locked) (currently at $5.2B);
Number of integrations etc.
Behind these impressive metrics are thousands of hours of relentless work and the undeterred support of the entire Ethereum community. The deployment of #1 Ethereum application is an important recognition of these efforts.
Return to the original promise of Ethereum
Ethereum introduced a grand vision of an open, borderless economic system accessible to everyone. This novel and transformative concept can have a profound impact on our society and the world we live in.
As the adoption of Ethereum L1 grew, the transaction fees reached levels that were not that inclusive anymore; the usage of popular Ethereum applications became reserved for larger token holders and high-value transactions. With this deployment, Uniswap as the flagship Ethereum project returns back to the original promise and again offers low fees and open access to everyone.
Stronger Polygon DeFi ecosystem
With millions of users, billions in organic capital locked and hundreds of applications, including blue chips like Aave, Curve, 0x, Balancer and 1inch, Polygon’s DeFi ecosystem is the second strongest one in the industry, right after Ethereum L1.
Uniswap will be a major addition to this flourishing ecosystem, given that it is an important and often used building block (aka money lego) in many modular DeFi implementations.
There are many additional reasons why this is an important event, as well as many interesting use cases that might be explored in the future, such as CEX trades rebalancing, more efficient price discovery and others.
