Matrix Labs

Matrixswap Receives Grant To Build DEX Aggregator On Polygon ($MATIC)

MatrixSwap has recently received a grant from the Polygon team to build its DEX aggregator on top of the leading Ethereum “commit-chain”, Polygon (formerly known as Matic).

MatrixSwap’s DEX aggregator, The Nebuchadnezzar, will be connected to high-volume AMMs on Polygon such as SushiSwap, QuickSwap, and DFYN. Our users now have even more liquidity when swapping multiple tokens into one single asset in one quick transaction.

With scalability and infrastructure development as the main concern for Ethereum, Polygon is a layer 2 scaling solution that seeks to stimulate adoption in the space by delivering on low fees and fast transactions. Polygon has been regarded as transforming Ethereum into a multi-chain system while Ehtereum continues to figure out its rollout of ETH 2.0.

The Polygon network offers high throughput at 7,000 transactions per second and the ability for it to scale rapidly without sacrificing security. Unlike Bitcoin and Ethereum’s Proof of Work (PoW) consensus, Polygon achieves this through a combination of the Plasma Framework and Proof of Stake consensus algorithm where block transactions are confirmed by validators.

“MatrixSwap will be deployed on Polkadot and Cardano but there was a massive request from the community to make Polygon also available. We’re excited to give our community more access to liquidity sources on Polygon with even more protocols being released soon. With our IDO just around the corner, we’re thrilled to on this partnership with Polygon and for people to do amazing things in the MATRIX,” says Joseph Liu, Project Lead of Matrixswap

With a feature in the Polygon community taking place in the next couple of weeks, are you ready for another summer of DeFi with no limits?

About Polygon ($MATIC)

Polygon, previously known as Matic, is a framework that seeks to address the limitations of Ethereum by providing high throughput, low latency transactions, and community governance. Polygon’s novel sidechain solution offers an unparalleled user experience with high speed, instant settlement times, and the promise of building interconnected blockchain networks.

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About Matrixswap

Matrixswap is a fully decentralized virtual-AMM-based perpetual swaps trading protocol deployed on the Polkadot and the Cardano blockchains. Unlike traditional AMMs, users can long or short any assets’ perpetual contracts with up to 25x leverage. Matrixswap aims to be a fully community-owned and governed Defi protocol.

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