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Decentralized Exchange Meshswap Launches on Polygon, Bringing 1M Users to Its DeFi Ecosystem

Tuesday, 03 May 2022 10:30 AM

As a successor to the KLAYswap DEX, the launch of Meshswap will see 1,500,000 MESH tokens airdropped to existing MATIC and vKSP holders

DUBAI, UAE / ACCESSWIRE / May 3, 2022 / Polygon, the leading Ethereum scaling platform onboarding millions to Web3, today announces the launch of Meshswap - an open-source automated market maker (AMM) and decentralized exchange (DEX).

The launch of Meshswap on Polygon will bring increased liquidity to the Polygon ecosystem and boost yield-farming opportunities for the network's users. In addition, Meshswap's launch will be marked by an airdrop of 1,500,000 MESH tokens to Polygon (MATIC) token holders and holders of Meshswap's predecessor KLAYswap (vKSP).

Meshswap is a revitalized version of KLAYswap - the first AMM on the Klaytn network - created by South Korea's leading blockchain technology development company, Ozys. KLAYswap achieved a TVL (total value locked-in) of over $2.1B within 6 months of its launch., processing trades of over $50 million per day. Now, Ozys aims to build on that success by launching Meshswap on the Polygon network.

In combination with its cross-chain bridging infrastructure, Ozys plans to assemble a vibrant, interoperable token economy on Polygon where users can benefit from a unified trading landscape that spans a range of previously fragmented blockchain ecosystems. The bridging technology used by Ozys - the Orbit Bridge - currently supports 5 public blockchains, including Ethereum, Polygon, BNB chain, XRP, Stacks, and Klaytn.

Polygon's scalable, high-speed, high-throughput Layer-2 blockchain bolsters the native functions of the Ethereum blockchain with its use of multiple scaling solutions and features, such as ZK Rollups and Optimistic Rollups, sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. By building on Polygon, Meshswap will take advantage of Polygon's product suite to form part of the liquidity hub of the DeFi space.

Meshswap joins a plethora of DeFi bluechip decentralized apps (dApps), including Sushiswap, Curve, Aave, Balancer, and Kyber.

Jinhan Choi, CEO atOzys said: "A successful launch of Meshswap on Polygon is more than just an entry into a global chain; Meshswap's potential goes above and beyond - enabling the integration of diverse platforms, advanced decentralized governance, and growth of the token economy."

Hamzah Khan, Head of DeFi and Labs at Polygon said: "Meshswap will bring increased liquidity options, as well as an already booming user base from KLAYswap and Klaytn to the Polygon network, expanding Polygon's own DeFi services while giving existing MATIC holders more opportunities for liquidity, trading, and yield-farming. We're confident this marks the beginning of a fruitful relationship between Polygon, Ozys, and all of our network's users."

Ozys also plans to open the source code for Meshswap to the public to enhance transparency and promote the ongoing development of the broader DeFi and blockchain space.

For more information, please contact:

Cryptoland PR for Polygon
[email protected]

About Polygon

Polygon is the leading platform for Ethereum scaling and infrastructure development.Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon's scaling solutions have seen widespread adoption with 7000+ applications hosted, 3.4B+ total transactions processed, ~135M+ unique user addresses, and $5B+ in assets secured.

If you're an Ethereum Developer, you're already a Polygon developer! Leverage Polygon's fast and secure txns for your dApp, get started here.

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SOURCE: Polygon

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