0x, the open protocol that enables the peer-to-peer exchange of assets on the Ethereum blockchain, has released a decentralized exchange (DEX) liquidity aggregator on Polygon.
It has been reported that the DEX liquidity bridge service announced the move via a release issued on Monday, marking another milestone for the burgeoning decentralized finance (DeFi) scene on Polygon.
However, the 0x API on Polygon features major Ethereum-based DEX liquidity channels like SushiSwap, Dfyn, and Curve, as well as Dodo, mStable, QuickSwap, and Cometh.
The report stated:
“Developers are able to access the open source 0x API and accompanying documentation to start building on Polygon instantly. The API has been designed to make it easy for DeFi devs to tap into DEX liquidity in a fast, reliable, and easy to use way.”
0x plans to expand its DEX liquidity aggregation capability with the team promising access to its open book orders and request for quote (RFQ) system in the next 0x API iteration scheduled for release in June.
Likewise, the 0x team stated that its API service had facilitated $26 billion in trading volume from over 1 million trades carried out by about 250,000 unique entities. This $26 billion in activity has been across both the Ethereum and Binance Smart Chain networks, which are currently the two most active DeFi markets.
Thus, according to the 0x team, Polygon attracting major DeFi protocols like Aave, Curve, and Augur is proof of the platform’s vibrant DeFi scene.
Source: Cointelegraph