Saturday, September 30, 2023

Uniswap Swept 50% Out Of The Market Share On Polygon

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Uniswap swept 50% of the market share on Polygon after three months of deployment so let’s read more today in our cryptocurrency news today.

The DeFi giant Uniswap swept 50% out of the market share on Polygon and managed to achieve this feat three months after the deployment on the network. Uniswap Labs is the company behind the popular Defi protocol and referred to the data compiled by Dune Analytics which showed a market share of 49% on Polygon and a new proposal to deploy Uniswap v3 was initially submitted in November a year ago by Polygon co-founder Mihailo Bjelic and was met with the strong support of over 72 million UNI tokens pledged as a vote for the proposal.

The next month, the DEX witnessed the expansion across the network including price appreciation of the MATIC token. Despite losing the market share over the past few months, Uniswap managed to retain 71% dominance of the DEXes world. Its trading volume over the past week hit $10 billion trailing right behind SushiSwp, Balancer, and Curve. During the past week, Uniswap’s count of unique addresses that were traded, maker, and taken was about 93.265K and Uniswap’s latest upgrade includes an updated auto Router which aimed to enhance the pricing as well as optimize the gas costs of swaps by routing trades across both Uniswap v2 and v3 pools.

The end goal is to provide the users with the ability to track the cost of a swap in real-time directly from the Apple Interface. Besides optimizing the gas costs, the new release focused on identifying the best prices on all Uniswap protocols. Last week, Uniswap labs announced the launch of the Swap widget which enables developers and dapp operators to embed the DEX app with one line of code and this will allow the developers to integrate Uniswap into their third-party applications:

“We envision a world in which everyone is able to access fair, open, and transparent markets. The Swap Widget brings this vision closer to reality by allowing developers to easily embed Uniswap swapping functionality, allowing their users to seamlessly swap tokens, join a community or DAO, wrap assets, and more, without leaving their apps.”

Polygon Allocated, carbon neutral, blockchain

The Swap widget functionality was launched on Web3 apps like Oasis app, Opensea, and More. In a bid to advance the engagement in the Web3 sector, Uniswap unveiled its venture arm and it is dubbed Uniswap Labs Venture with a focus on emerging web 3projects on different levels.

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