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Uniswap V3 is deployed on Polygon and MATIC surpasses its all-time high

 Uniswap V3 is deployed on Polygon and MATIC surpasses its all-time high

Uniswap V3 is deployed on Polygon and MATIC surpasses its all-time high

  The world's most popular decentralized exchange, Uniswap, has just been turbocharged with the rollout of the Ethereum Polygon layer 2 pool.

  Although Bitcoin and Ethereum are still in the consolidation phase as the guys on Bitcoin commented smarter, yesterday, Uniswap Labs reported that they launched a DEX on the Polygon network.  Polygon co-founder Mihailo Bjelic submitted a proposal to the Uniswap government to implement Uniswap V3 on Polygon in November, and it was voted on last week.

  The results of the vote were overwhelming.  With more than 72 million UNI tokens pledged to vote in favor of the proposal, it has now been approved.  Only 500,000 UNI tokens had been pledged to vote against the proposal when voting ended on December 18.

  Now, users can exchange tokens on Uniswap using Layer 2 of the Polygon Network, which offers faster and cheaper transactions.

  Uniswap and Polygon celebrated the achievement and said it was a great move for both networks.  Polygon said the move brought with it a “return to the original Ethereum promise,” while Uniswap said it would bring various improvements to the AMM.

  Uniswap continues to grow

  Uniswap remains the king of DEX, with a market share of 76.8% by volume over the past week.  It has processed $16.4 billion in the past seven days and $1.8 billion in the past 24 hours.

  In terms of monthly volumes, Uniswap processed $83.8 billion in November, ahead of its closest rival and its predecessor, SushiSwap, with $7.9 billion a month.  Additionally, there are $8.98 billion in total value booked at Uniswap.  At the same time, it is up 311% since the beginning of the year.  DEX ranks 9th on the DeFi TVL charts, below the funding pool.

  In terms of platform fees generated, Uniswap is second only to Ethereum

  Its original token, UNI, rose 10.7% yesterday to $17.02.  At the time of writing, it was priced at around $16.60.  However, UNI has been hit hard since its May high of $44.92.

  MATIC at ATH (all-time high)

  Polygon's original token, MATIC, has fared much better this year.  It reached an all-time high of $2.70 during the Asian trading session on Thursday morning, and is currently slightly below that level, around $2.60.

  Over the past week, the MATIC index is up 26.4%, and for the month, the coin is up 72%.  One of the best performing cryptocurrencies this year is Polygon token, with a massive gain of 15.320% since January 1.

  It is currently ranked 14th on the charts with a market capitalization of $18.4 billion

  Polygon was also dealing with NFT in 2021, launching the online retail real estate platform Futurent.  Polygon Studios, the project's NFT arm, also supported the launch of Rario, the first ever NFT platform launched on the web.