Uniswap V3 To Deploy On Polygon PoS Chain and EIP-1559!

Polygon recently started a proposal to bring Uniswap V3 to the polygon POS chain which has now passed with overwhelming support, this will enable far more users to participate in Defi while minimizing gas costs which has priced out a majority of ETH users including myself!

Polygon will provide the most volume in user-activity for Uniswap compare to most other chains seeming to be a win-win situation for all involved in my opinion, I cannot wait to finally participate in some LP's without having to worry about if i'll have enough to even cover the gas.

Hopefully with no bumps in the road we will see Uniswap V3 deployed to polygon within a week!

As quote by Mihailo Bjelic Co-Founder of Polygon:

• Polygon PoS has the second strongest DeFi ecosystem, right after Ethereum L1;
• Deploying to Polygon PoS can bring a lot of benefits (user base growth, huge savings for users, higher user activity, higher revenue, market capture, return to the original DeFi vision etc);
• We are willing to incentivize Uniswap adoption, financially and otherwise;
• Polygon PoS is battle-tested;
• Polygon is aligned with Ethereum and its values.

Polygon's Matic token is currently trading at the price of $2.19.

My thoughts on the price action going forward once deployment has happened is sitting between the $3 - $4 Range.

I could be being optimistic, I have followed Matic for a long time and been involved in a lot of projects hosted on the sidechain as fees have always been an issue for someone not as wealth such as myself.

It has many ups and downs within the market but recently with the announcement of the $1B fund Polygon have set for research into ZK Rollups as well as leading the front with multiple ZK scaling solutions for Ethereum we have watched the price rise and stay steady despite the markets recent dumps.

With all this good news going forward and more users adopting to Polygon everyday my price prediction could be a mere shadow of what it truly is capable of! but for the long term I will keep my sights on a moderate price goal.

Polygon EIP-1559 Upgrade:

Another major announcement from Polygon this month is the news of Polygon's core development deploying a testnet implementation of Ethereum's Improvement Proposal 1559 to introduce burning of its native MATIC token and better fee visibility.

More better known as The London Fork, if you would like to read more upon what the London Fork is and its effects on Ethereum click the link!

Polygon’s MATIC token has a fixed supply of 10 billion. Like Ethereum, MATIC will now be burned with every transaction! meaning the circulating supply will decrease creating a deflationary token.

The development teams analysis shows the annualised burn would only represent 0.27 percent of the total MATIC supply in the network.

Validators and delegators will also be benefit by the upcoming update in my opinion as all rewards on the network are being handed out in MATIC token, which will become deflationary. After the update's implementation developers expect the network to become less congested due to the automatic base fee increase.

All in all a very good month for Polygon, I look forward to hodling my MATIC for the long term and jumping into a bunch of MATIC paired pools on Uniswap!

Thank you for reading!

Posted Using LeoFinance ^Beta