01 Jun 2021 #0x
Polygon’s decentralized finance footprint continues to grow, with 0x releasing a version of its decentralized exchange liquidity aggregator API on the “Ethereum scaler.” 0x has released a Polygon version API for its decentralized exchange (DEX) liquidity aggregator, opening up the 0x API tool to the expanding Polygon market. 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.
According to the announcement, 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.
Detailing the ease of using the 0x API on Polygon, the announcement reads: “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 reportedly 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. As part of the announcement, 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.
According to the 0x team, Polygon attracting major DeFi protocols like Aave, Curve and Augur is proof of the platform’s vibrant DeFi scene. As previously reported by Cointelegraph, Polygon recently debuted an SDK framework for building Ethereum-compatible chains.
Interblockchain liquidity protocol Ren is also interfacing with Polygon. Earlier in May, Ren announced a new bridge to port Ren-based wrapped tokens — ERC-20 representations of “coins” like Bitcoin (BTC), Dogecoin (DOGE) and Zcash (ZEC), among others — to the Polygon network.
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