Cryptocurrency News

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

The network, which onboards a large number of decentralized applications, aims to impact one million users through 0x’s decentralized exchange liquidity aggregator API.

In an announcement today, Polygon said that its project will invest $10.5 million to achieve decentralized financial infrastructure on its network through the support of developers and projects. The project said it expects an “influx of new DeFi projects to join the 0x ecosystem,” including Matchaxis, DexGuru, DexKit, MyCrypto, Set Protocol, Zapper.

Last month, 0x released the Polygon Edition API for its decentralized exchange liquidity aggregator, opening up the 0x API tool to expand the Polygon market. The API allows major Ethereum-based DEX liquidity channels, including Sushi Swap, DFIN, Curve, Dodo, MSTable, QuickSwap and Cometh, to integrate with Polygon.

related: 0x takes initial steps towards decentralization of governance

The network is backed by prominent investors, including billionaire Mark Cuban, who said last month that the price of the cryptocurrency better reflects real market demand with “current network impact and significant user growth.” Although the price of Polygon’s native token, MATIC, exceeded $2 for the first time in May, the cryptocurrency has fallen to $1.39 since publication.