Home » News » Polygon and 0x Announce $10M Fund to Onboard One particular Million Users

Polygon and 0x Announce $10M Fund to Onboard One particular Million Users

Polygon offers announced that it will be partnering with 0x to raise a total of $10. 5 million that will be used to attract more customers into choosing its system and the Ethereum blockchain.

According to a press release shared with CryptoPotato , the funds will be used to support projects and developers on the Polygon network, thus leading to the development of a secure and robust DeFi infrastructure.

Polygon needs to attract at least one mil users to its network and the Ethereum blockchain.

Furthermore, the 0x API, which usually integrated Polygon late final month, is known for its straightforward functionality, eliminating the difficulty of developing on-chain liquidity from scratch.

With 0x API integration on Polygon, DeFi developers can easily connect to various DEX liquidity across many major liquidity sources, which includes Curve Finance, Dodo Financial, SushiSwap, Quickswap, etc ., this provides developers more time to focus on their own product.

“We anticipate an influx of new DeFi projects onboarding into the 0x ecosystem seeking to combine their own deep and easily accessed liquidity with Polygon’s quick and flexible architecture, ” excerpt of the announcement scans.

Polygon Confident Regarding 0x Impressive Stats

Polygon’s dream of onboarding one million users in the near future will supposedly be made possible via its 0x integration.

The liquidity aggregator has so far caused more than one million trades from over 300, 000 special traders, representing over $27 billion in trade quantity across Binance Smart Chain (BSC) and Ethereum.

Polygon’s Recent Boom Attracts 0x

0x launched a vote earlier last month asking its community to choose among Polygon, Solana, and Influx, where it should expand in order to next.

The poll noticed about 38% of the 21, 444 respondents, which symbolizes the majority, choosing Polygon in front of the other networks.

However , whilst announcing its expansion into the Polygon ecosystem, 0x observed that it chose Polygon because of its recent boom this year.

Curiously, in May alone, Polygon effectively processed nearly three times as many transactions as Ethereum, along with 0x noting that the task is on the right track of surpassing BSC’s five million monthly transaction volume.

In April, Polygon launched a $100 mil DeFi fund as part of its effort to make the DeFi ecosystem more accessible to users within the next three years.

Last month, the task announced the launch of its SDK network that will allow designers to deploy chains connected to Ethereum.