0x and Polygon announced a $10 million fund to onboard one million new users to both Polygon and Ethereum as we can see more in our latest cryptocurrency news today.
Polygon announced that it will be partnering with 0x to raise $10 million that will be used to onboard a million users to the platform as well as the Ethereum blockchain. According to a press release, the funds will be used to support projects and developers on the network which will lead to the development of a secure and robust DeFi infrastructure. Polygon expects to attract one million users to the network and the Ethereum blockchain. The 0x API which integrated Polygon a month ago is known for its easy-to-use functionality thus eliminates the complexity of developing on-chain liquidity from scratch.
With 0x and Polygon integration, DeFi developers can connect to various DEX liquidity across all major liquidity sources like Dodo Finance, Curve Finance, SushiSwap, Quickswap and more thus giving developers more time to focus on their product:
“We anticipate an influx of new DeFi projects onboarding into the 0x ecosystem seeking to combine their deep and easily accessed liquidity with Polygon’s fast and flexible architecture.”
Polygon’s dream of onboarding one million new users in the future will be made possible thanks to the 0x integration. The liquidity aggregator facilitated more than a million trades from 300,000 unique traders that represent over $27 billion in trade volume across the Binance Smart chain and Ethereum. 0x announced a new poll asking the community to choose among Solana, Polygon, and Avalanche on where to expand next.
The poll saw about 38% of the 21,444 respondents which represents the majority choosing Polygon ahead of the other networks. While announcing its expansion into the ecosystem, 0x noted that it chose Polygon because of the recent boom this year. In may, Polygon processed three times as many transactions as Ethereum with 0x noting that the project is on the right track to surpass the BSC five million monthly transaction volume. Polygon even launched a $100 million Defi fund as a part of the efforts to make the Defi ecosystem more accessible for other users in the next three years.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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