Polygon continues its market prevalence by forming another partnership with 0x. The development will see the network adopting 0x-powered apps. The collaboration occurred after the DefiForAll Fund allocated over 7 million dollars in MATIC to thee 0x DAO.
It attracted 1 million new users to 0x-backed apps functioning on Polygon. Both projects share the vision to simplify DeFi and offer cost-effective services to create an even financial system globally.
0x Labs will be spending another 3.5 million dollars in ZRX, the DAO operated by ZRX coin holders. It means that 0x Labs is spending over 10.5 million dollars in quick successions to help the DeFi economy.
Users can now opt for the 0x API on the Polygon network. As a result, it will create a surge of new users on both the blockchain and the 0x community. Moreover, the integration will result in more DeFi projects combining 0x’s liquidity with Polygon’s shameless architecture.
Jaynti Kanani (CEO and Co-Founder of Polygon) stated that Polygon is thrilled to work with pioneers in the DEX circuit. It will allow Polygon to add 1 million new users to the network. The DefiForAll Fund by Polygon further assists projects and developers in building a secure and robust DeFi ecosystem. There is also a 7 million dollar commitment made to the 0x DAO.
Will Warren (Co-CEO and Co-Founder at 0x Labs) stated that 0x is honored to join hands with ZRX holders and Polygon to expand the DeFi circuit. He added that offering 0x-backed apps to 1 million users on Polygon is an outstanding achievement as well. The team is excited to witness how the DeFi domain unveils as developers use 0x’s liquidity with Polygon’s flexibility.
It is up to the ZRX holders to decide how the funds will be used. It is expected that 0X will dedicate the finances to Polygon-benefitting services like:
- Marketing campaigns to acquire new users.
- Acquiring developers and offering support.
- Adding support for NFTs and other tokens.
- New proofs-of-concept, governance designs, and token economics.
- Adding Polygon to support app tracing 0x network activity.
Working with the 0x DAO will result in transparent communication, management, and accounts surrounding the funding. Users have even presented a chance to share their thoughts on the 0x governance and research forum.
The partnership creates a serious buzz with the involvement of names like Polygon, ZRX, and 0x.
Polygon enters yet another partnership to keep its market momentum. This time, the network joined hands with 0x DAO to help the DeFi sector. Polygon’s DefiForAll fund has allocated over 7 million dollars in MATIC to the 0x community DAO. In addition, it will onboard 1 million new users to 0x-backed apps on Polygon. 0x is also contributing 3.5 million dollars in ZRX, allowing the platform to garner more attention.