Uniswap on Polygon: UNI & MATIC Surge!

Uniswap is now live on Polygon! Following a successful governance vote, Uniswap users voted to deploy the exchange's smart contracts on Polygon, a layer-2 scaling solution built to help scale Ethereum. This major development has sparked significant interest, with UNI (Uniswap's governance token) and MATIC (Polygon's native token) up by 16% and 21% for the week respectively.

In a major development on Wednesday, December 22, decentralized exchange protocol Uniswap announced the deployment of its version 3 contracts on the Polygon network. Polygon co-founder Mihailo Bjelic submitted a proposal to Uniswap governance in November to deploy Uniswap v3 on Polygon, and it was voted in last week. This crucial step brings faster transactions and lower gas fees to Uniswap users.

Why Uniswap on Polygon Matters

The move to Polygon aims to address Ethereum's high transaction costs and network congestion. All Uniswap version 3 contracts were now deployed to the Polygon manner. The migration provides users with a more accessible and affordable DeFi experience. Uniswap, the leading decentralized exchange in the world, launched its services on the Polygon blockchain yesterday. This deployment unlocks a new world of possibilities for DeFi enthusiasts.

The Governance Vote and Incentives

On November 20, we submitted a proposal to deploy Uniswap to Polygon. The proposal successfully went through all three phases of the Uniswap governance. The vast majority of voters supported the deployment of Uniswap V3 on Polygon. This demonstrates the community's strong desire for a more scalable and cost-effective DeFi solution. To further encourage adoption, Polygon will support the move with up to $20 million in financial incentives, which will drive liquidity and usage.

Stay tuned for more updates on Uniswap's progress on Polygon and the impact on UNI and MATIC prices. Explore the benefits of faster and cheaper trading on Uniswap through Polygon!