Decentralized exchange protocol Uniswap Goes Live on Polygon, UNI and MATIC Rally

Published by
Decentralized exchange protocol Uniswap Goes Live on Polygon, UNI and MATIC Rally

Although the cryptocurrency market continues to trade under pressure, some important developments continue to happen in the crypto ecosystem. On Wednesday, December 22, decentralized exchange protocol Uniswap went live on Polygon, the Ethereum Layer-2 scaling solution.

The development comes a month after Polygon co-founder Mihailo Bjelic submitted a proposal to Uniswap to launch the Uniswap version 3 on Polygon. the Uniswap community had also voted in big numbers to accept the proposal with a staggering 72 million token holders supporting the move. commenting on the development, Polygon co-founder Mihailo Bjelic said:

With this deployment, Uniswap as the flagship Ethereum project returns back to the original promise and again offers low fees and open access to everyone.

Polygon’s DeFi ecosystem is the second strongest one in the industry, right after Ethereum L1. Uniswap will be a major addition to this flourishing ecosystem, given that it is an important and often used building block (aka money lego) in many modular DeFi implementations.

The Benefits of Uniswap Launching on Polygon

DeFi blockchain-based tools conduct the active tasks of lending, borrowing, and trading. However, DEX platforms like Uniswap, which operate on the Ethereum blockchain- face a major issue of the high gas fee.

Launching on the Layer-2 platform like Polygon will alleviate the pain of high gas fee for Uniswap users. Furthermore, the launch on Polygon means that Uniswap (UNI) users can swap tokens using the Polygon blockchain through Uniswap’s official interface.

Uniswap is one of the largest DEX’s facilitating over $600 billion in trading volumes during this year. The deployment also holds good news for the holders of Polygon’s native cryptocurrency MATIC. Users will use the MATIC token to vote on governance issues as well as for paying for the transaction fee.

Following the announcement, the price of UNI and MATIC have surged respectively. Uniswap’s (UNI) price has surged 10% in the last 24 hours and is currently trading at $16.73. On the other hand, Polygon’s MATIC has touched a new all-time high of $2.70.

Advertisement

Share
Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Breaking: Trump To Meet China’s President On October 30, Bitcoin Bounces

Bitcoin surged above $111,000 after confirmation that President Donald Trump and Chinese President Xi Jinping…

October 23, 2025
  • News

Breaking: Trump Pardons Binance’s Changpeng “CZ” Zhao, BNB Spikes

U.S. President Donald Trump has reportedly pardoned Binance founder Changpeng "CZ" Zhao for his conviction…

October 23, 2025
  • News

Peter Schiff Challenges Binance Founder CZ to Debate as Bitcoin Vs. Gold Rivalry Heats Up

Bitcoin critic and renowned economist Peter Schiff has challenged Binance co-founder Changpeng "CZ" Zhao to…

October 23, 2025
  • News

Robinhood Lists HYPE As Hyperliquid Flips CZ Backed Aster In Perp DEX Volume

Crypto exchange Robinhood has listed Hyperliquid's native token HYPE for its U.S. clients. This comes…

October 23, 2025
  • News

Expert Warns More Crypto Bloodbath Ahead of CPI Data Tomorrow

The U.S. Bureau of Labor Statistics (BLS) will release the Consumer Price Index (CPI) data…

October 23, 2025
  • Bitcoin News
  • News

US President Promises Deal With China on Everything As ‘Trump Insider’ Begins To Close Bitcoin Shorts- Is A BTC Recovery Ahead?

The “Trump insider whale” has begun closing its Bitcoin short positions just as the U.S.…

October 23, 2025