Uniswap, a DeFi Giant, Swept 50% of the Market Share on Polygon

Uniswap successfully gained nearly 50% market share on polygon after three months of deployment. Uniswap, the famous decentralized exchange, accounts for nearly 50% of the market share on the second layer aggregator of Ethereum – polygon. It successfully achieved this achievement in just three months after its deployment on the polygon network.

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 The Leader of Polygon

Uniswap labs, the company behind the popular DeFi protocol, mentioned on twitter the data compiled by dune analytics, which showed a 49.5% market share on polygon. Last November, Mihailo bjelic, the co-founder of polygon, submitted a proposal to deploy Uniswap V3 for the first time, and received overwhelming support from more than 72 million uni tokens, promising to vote on the proposal.

In the following month, DEX witnessed its expansion in the whole network, inducing the price appreciation of its native token Matic.Despite losing market share in the past few months, Uniswap managed to maintain 71% dominance in the DEX world. Its trading volume in the past week was nearly $10billion. According to data from dune analytics, companies such as curve, sushiswap and balancer are ranked behind. In the past seven days, the unique address of Uniswap’s transaction, manufacturer and recipient has been found to be 93.265k.

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Further Vision

The latest upgrade of Uniswap includes an updated automatic router designed to improve pricing and optimize the gas cost of swaps by routing transactions in Uniswap V2 and V3 pools. The ultimate goal is to provide users with the ability to track the real cost of swaps in real time directly from the application interface. In addition to optimizing gas costs, the new version also focuses on determining the best price among all Uniswap protocols.

Last week, Uniswap lab announced the launch of a tool called exchange gadget, which enables developers and decentralized application (DAPP) operators to embed Uniswap DEX applications with “one line of code”. This will enable developers to integrate Uniswap into their third-party applications.

The exchange gadget function is launched on popular web 3 applications, such as – opensea, friends with benefits and oasis app. In order to further promote its participation in the web 3 field, Uniswap also announced its venture capital department earlier this month. The company, known as Uniswap labs ventures, revealed that it intends to focus on emerging web 3 projects at different stages and levels.