Uniswap is often considered one of the biggest and best-known decentralized cryptocurrency exchange (DEX) platforms in the world. Its access is unique – several versions are available, while V3 can be accessed on different blockchains that are bridged to Ethereum. One such version is the Uniswap V3 Polygon crypto exchange.
As an open-source liquidity protocol, Uniswap allows customers to exchange ERC-20 tokens using the swapping mechanism. The Uniswap Polygon cryptocurrency exchange cannot be accessed in countries that have been sanctioned by the USA, including Belarus, Syria, and Iran.
Uniswap’s two most popular versions are V2 and V3. The third iteration was developed as a technical upgrade. It focuses on improving three aspects of the Uniswap infrastructure – the efficiency of providing liquidity, scalability, and Oracle functionality.
The Uniswap V3 Polygon cryptocurrency exchange is a layer-2 solution for the Ethereum mainnet platform. As such, it enables fast transactions for lower costs compared to layer-1.
Uniswap V3 is available alongside V2. Both platforms run separately, keeping their transaction history intact and allowing customers to switch between networks based on their preferences. For example, if the Uniswap V3 Polygon crypto price is more favorable, you can switch the platform and conduct your swapping there.
Swapping is the core service provided by the platform. Unlike a centralized crypto exchange (CEX), this DEX doesn’t offer spot or derivatives markets, nor trading instruments like margin or leverage. Instead, swapping acts as a type of Uniswap Polygon spot exchange.
As a decentralized network, Uniswap allows all users equal opportunities to list their ERC-20 tokens on the network, as long as there is enough liquidity to back them. The number and availability may vary between different Uniswap versions and bridges. There are over 250 Uniswap V3 Polygon trading pairs available.
The Uniswap interface provides information on the most popular tokens and liquidity pools. The data is based on the 24-hour and 7-day Uniswap V3 Polygon volume. All prices are denominated in USD for customers’ convenience.
Due to the functional differences between V2 and V3, as well as the structural variations between the bridges, the Uniswap V3 Polygon crypto fees may differ from other iterations. There is no tiered fee structure or maker-taker model used to determine the rates.
MATIC is the main asset used to cover the Uniswap Polygon exchange fees for gas. Liquidity providers are eligible to receive fees from transactions that use tokens balanced by the provided liquidity. This acts as a passive reward. Additionally, transferring assets from Ethereum to Polygon may incur fees.
About the Company
The Uniswap automated market maker (AMM) was founded and launched by Hayden Adams in November 2018. To improve the platform’s scalability and transaction costs, in May 2020, an upgraded version, known as Uniswap V2, was launched, with Version 3 following a year later.
V3 saw the introduction of bridges between Ethereum and several other decentralized networks. Alongside the Uniswap Polygon cryptocurrency exchange, which was released in December 2021, users can also access the platform on Optimism, Arbitrum, and Celo.
Polygon is a sidechain for the Ethereum network. It’s a scalability solution that aims to improve block delivery time and reduce transaction costs. Since it’s built as an ETH-centric network, it provides faster access between the Ethereum mainnet and the Uniswap V3 Polygon crypto exchange.
The December launch had an impact not just on the Uniswap platform in particular but the overall Polygon platform and its native asset MATIC. According to market data, the Uniswap Polygon crypto price for MATIC was up to $2.66, marking its all-time high at the time.
In April 2022, Polygon announced a new incentives program. It proposed $15 million to increase the liquidity of the Uniswap V3 Polygon crypto exchange, as well as the broader V3 ecosystem.
In May of the same year, the network reached a significant milestone, as the Uniswap volume surpassed $1 trillion. The number is cumulative, meaning that the Uniswap Polygon trade volume was also accounted for.
Hayden Adams is the CEO of Uniswap Labs, the company behind the project. Adams is a software engineer. While working at Siemens, he read an article written by one of the co-founders of Ethereum, Vitalik Buterin, which inspired him to start working on Uniswap.