Polygon project committing $10M to reach 1M users through 0x DEX's API

The network onboarding a large number of decentralized applications (DApps) while working on Ethereum’s Layer2 solution.

In an announcement, Polygon said that the project would be committing $10.5 million in order to secure DeFi infrastructure on its network with support from developers and projects.

The project said it anticipated “an influx of new DeFi projects onboarding into the 0x ecosystem” with initial support offered for Matchaxyz, Dexguru, Dexkit, MyCrypto, Set Protocol, Zapper.fi, and Zerion.

In May, 0x released a Polygon version API for its decentralized exchange liquidity aggregator, opening up the 0x API tool to the expanding Polygon market. The API would allow major Ethereum-based DEX liquidity channels to integrate Polygon.

Polygon has the support from major investors including billionaire Mark Cuban, who said last month that the price of cryptocurrencies should better reflect real market demand, with “a current network effect and significant user growth.” 

The price of Polygon Network’s native token, MATIC, exceeded $2 for the first time in May. Currently, the cryptocurrency has since fallen to $1.39.