0x Protocol developers announced on Monday that the DEX has integrated with Polygon, Ethereum’s scalability solution, to add DEX liquidity to the protocol.
0xProtocol launches an API, an application programming interface, on top of the Ethereum scalability protocol, Polygon. According to publication shared by 0x Labs, the developers of 0x Protocol, the API will allow liquidity to be added to Polygon from all existing sources on 0x, including Quick Swap, Sushi Swap, Corners, Dodo, mStable, dfyn, cometh and others.
0x Protocol's new API makes its liquidity aggregation tool available on Polygon, making it easier for decentralized finance app developers (DeFi) access to liquidity managed by the decentralized exchange (DEX), in a fast, reliable and easy-to-use way. In addition, as the project explains, the API will allow developers to focus on designing and building their product, without worrying about liquidity.
Since its launch, the 0x Protocol API has facilitated over 1,5 million trades from nearly 300.000 unique traders, representing in total over $27.000 billion in traded volume. block chains , the Ethereum and BSC, the developers say.
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Scalability for your DEX product
One of the goals of 0x Protocol developers with the launch of this new API on Polygon is to continue expanding the reach of their DEX product, providing the same experience that their developers know and enjoy to developers building on Polygon.
As explained in their statement, the scalability protocol-compatible version of their liquidity aggregator will help their integrators and developers, and the Polygon developer ecosystem, create innovative new applications and products that attract and integrate the next 1.000.000 new users into the DeFi ecosystem and the cryptocurrency industry at large.
0x Protocol chose Polygon at the request of its own crypto community, which voted 38,2% in favor of this integration.
Polygon, a solution that is growing in adoption every day, connects with 0x Protocol’s mission of “creating a tokenized world where all value can flow freely.” Thus, adding liquidity for the developers of this protocol will facilitate the creation of innovative products, such as a broader set of smart contracts, self-custody wallets, and DEX markets, that will captivate the interest of millions of new users.
Polygon, scalability and interoperability for Ethereum
This second layer solution to improve the scalability of Ethereum, formerly known as Matic Network, seeks to turn Ethereum into a highly scalable blockchain network, as well as a unique and complete multi-chain system, capable of building and supporting different sovereign and independent blockchains.
A few days ago, Polygon developers announced the launch of Polygon SDK, a development toolkit for creating new, highly scalable, fully decentralized, Ethereum-compatible independent blockchain networks. Also, as 0x Labs notes, earlier this month, Polygon processed nearly 3x more transactions than Ethereum, representing an “exciting opportunity” for the DEX protocol to expand its product reach to a larger and ever-growing global user base.
ZRX and MATIC grow more than 10%
After the news was released, both ZRX, the native token of 0x Protocol, as MATIC, the token of Polygon, grew by more than 10% each.
In the last 24 hours, ZRX shows an increase of 11% in its value. The token is trading at a value of $1,03 and maintains a market capitalization of over $860 million. MATIC, for its part, shows an increase of 12,6%, reaching a value of $1,92The market capitalization of this token exceeds $11.990 billion, giving it the 15th place among the most important cryptocurrencies in the industry.
MATIC's growth so far in 2021 exceeds 19.000%.
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