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0x launches DEX liquidity API on Polygon

05/31/2021

Polygon’s decentralized finance footprint continues to develop, with 0x releasing a model of its decentralized trade liquidity aggregator API on the “Ethereum scaler.”

0x has launched a Polygon model API for its decentralized trade (DEX) liquidity aggregator, opening up the 0x API instrument to the increasing Polygon market.

The DEX liquidity bridge service introduced the transfer by way of a launch issued on Monday, marking one other milestone for the burgeoning decentralized finance (DeFi) scene on Polygon.

Based on the announcement, the 0x API on Polygon options main Ethereum-based DEX liquidity channels like SushiSwap, Dfyn and Curve, in addition to Dodo, mStable, QuickSwap and Cometh.

Detailing the convenience of utilizing the 0x API on Polygon, the announcement reads:

“Builders are capable of entry the open supply 0x API and accompanying documentation to start out constructing on Polygon immediately. The API has been designed to make it simple for DeFi devs to faucet into DEX liquidity in a quick, dependable, and simple to make use of manner.”

0x reportedly plans to increase its DEX liquidity aggregation functionality with the workforce promising entry to its open ebook orders and request for quote (RFQ) system within the subsequent 0x API iteration scheduled for launch in June.

As a part of the announcement, the 0x workforce said that its API service had facilitated $26 billion in buying and selling quantity from over 1 million trades carried out by about 250,000 distinctive entities. This $26 billion in exercise has been throughout each the Ethereum and Binance Good Chain networks, that are at the moment the 2 most lively DeFi markets.

Based on the 0x workforce, Polygon attracting main DeFi protocols like Aave, Curve and Augur is proof of the platform’s vibrant DeFi scene. As beforehand reported by Cointelegraph, Polygon lately debuted an SDK framework for constructing Ethereum-compatible chains.

Interblockchain liquidity protocol Ren can be interfacing with Polygon. Earlier in Might, Ren introduced a brand new bridge to port Ren-based wrapped tokens — ERC-20 representations of “cash” like Bitcoin (BTC), Dogecoin (DOGE) and Zcash (ZEC), amongst others — to the Polygon community.