Investment

Polygon commits $ 10M to reach 1M users using the 0x API

A network integrating a large number of decentralized applications aims to reach one million users through the decentralized liquidity exchange aggregator API 0x.

In today’s announcement, Polygon said its project would commit $ 10.5 million to securing a decentralized financial infrastructure in its network by supporting developers and projects. The project said it expected an “influx of new DeFi projects on board into ecosystem 0x” with initial support offered for Matchaxyz, Dexguru, Dexkit, MyCrypto, Set Protocol, Zapper.fi and Zerion.

Last month, 0x released the Polygon API for its decentralized currency liquidity aggregator and will open the 0x API tool for the expanding Polygon market. The API enables the integration of Polygon’s major ether-based DEX liquidity channels, including SushiSwap, Dfyn, Curve, Dodo, mStable, QuickSwap and Cometh.

Related: Company 0x is taking the initial steps to decentralize administration

The network has the support of major investors, including billionaire Mark Cuban, who said last month that the price of cryptocurrencies should better reflect real market demand with “the current network effect and strong user growth.” Although the price of Polygon’s native token, MATIC, exceeded $ 2 for the first time in May, the cryptocurrency has since dropped to $ 1.39 at the time of publication.


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