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Last Updated on January 29, 2022 by Eddu Oz
What to Know About Ox Polygon
When it comes to Ox Polygon, most investors might think that they are the same, but the two are different, brought together by a common interest.
Ox is an exchange not controlled by a central authority that is used for trading ERC-20 tokens. Ox Labs is responsible for the creation of OX, and the exchange serves as the basis for DeFi for any developer needing exchange functionality.
Polygon, on the other hand, is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. It is also responsible for aggregating scalable solutions on Ethereum, supporting a multi-chain Ethereum ecosystem.
📌 The Polygon network has been constantly upgrading with it currently surpassing Ethereum for three times the transaction speed.
📌 Ox and Polygon partnered to enable DeFi users and developers to partake in the DEX liquidity in a fast, reliable, and easy way to focus on their products.
📌 Ethereum and Binance Smart Chain are two among the top DeFi teams making use of the Ox API.
📌 Polygon allocated $7 million in Matic to the Ox community to drive 1 million new users onto 0x-powered applications running on the Polygon Network.
SEE ALSO: How to Cloud Mine Polygon MATIC
The Ox Polygon partnership happened as a result of the fact that Polygon allocated $7 million in Matic to the Ox community to drive 1 million new users onto 0x-powered applications running on the Polygon Network.
This necessitated a move to a partnership as Ox Labs reciprocated the gesture and contributed $3.5 million in ZRX to DeFi, stating that they share the Polygon team’s mission to make DeFi more accessible and cost-effective to create a more equitable global financial system.
With the contribution, the DAO, controlled entirely by ZRX token holders, will have a whopping $10.5M in total funds to grow DeFi and the 0x ecosystem on Polygon.
Ox launched its API on Polygon
Another reason that further enhanced the union between Ox and Polygon was the move made by Ox to launch its application programming interface (API) on the Polygon network.
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Since its launch, Ox API has facilitated over 1.5 million trades from nearly 300,000 unique traders that in total represent more than $27 billion in volume traded across Ethereum and Binance Smart Chain.
This move was made to bring about the integrators and the broader Polygon developer ecosystem onboarding the next 1,000,000 users to crypto.
Polygon has become the latest addition to Ox’s list of top DeFi teams with its API powers, which include Ethereum and Binance Smart Chain.
Polygon’s growth overtime was the key determinant that led to Ox launching its API on the network, as Polygon has developed a vibrant ecosystem processing three times as many transactions as Ethereum.
For developers looking to add Polygon trading to their products, the Ox API is the best place to start. Their API currently aggregates all existing liquidity sources on Polygon — including QuickSwap, SushiSwap, Curve, Dodo, mStable, Dfyn, Cometh, and more.
Ox Labs also made it known that they are excited about this step in their mission to create a tokenized world where all value can flow freely, with the hope that there is much more to come.
They also plan to add support for more L1 chains and L2 solutions and are looking forward to working with more teams that want to help their users explore decentralized exchange in this growing multichain world.
Ox Polygon is a partnership built on crypto and DeFi to make the world a better place. Polygon in particular has been impressive, with its recent transaction speed proving that it has gotten a major boost.
If you happen to be a developer looking to integrate Polygon networks into your program/product, the Ox API is the best place for that.
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