Uniswap goes live on Ethereum scaling network Polygon

Uniswap goes live on Ethereum scaling network Polygon

Decentralized exchange protocol Uniswap has gone live on Ethereum scaling network Polygon.

Last month, Polygon co-founder Mihailo Bjelic submitted a proposal on the Uniswap governance portal to deploy Uniswap v3 on Polygon. The Uniswap community then voted to accept the proposal last week.

More than 72 million Uniswap (UNI) token holders supported the move, and as a result, Uniswap is now live on Polygon. In other words, Uniswap users can now swap tokens using the Polygon blockchain via Uniswap's official interface.

Polygon is the third Ethereum scaling network Uniswap is currently live on, following Optimism and Arbitrum. The main idea behind Layer 2 networks is to save on gas costs. These networks allow for processing transactions off of the Ethereum main chain, which helps reduce the block space used on Ethereum and lower gas fees.

Uniswap is the largest decentralized exchange in the market, having facilitated over $600 billion in trading volumes on its v2 and v3 platforms this year to date (over $300 billion on each platform), according to The Block Research.

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