Uniswap on Polygon: Transaction Fees < $0.01 | Cryptonate

Uniswap on Polygon: Transaction Fees < $0.01

December 23, 2021 / Unchained Daily / Laura Shin

Daily Bits ✍✍✍

  • Bored Ape Yacht Club flipped CryptoPunks in floor price.

  • Global search interest for “NFT” surpassed “Bitcoin” and “crypto” yesterday.

  • China’s official news agency is issuing NFTs.

  • Bitcoin mining profitability is slipping to end the year.

  • Former NBA superstar Shaquille O’Neal changed his Twitter bio to shaq.eth.

  • Donald Trump said cryptocurrencies are “dangerous.”

  • Crypto.com (disclosure: a sponsor of my shows) will run an ad during the Super Bowl in 2022.

  • A judge in Ontario issued an arrest warrant for a teenage suspect in a recent $16 million DeFI hack.

  • Crypto companies raised $25 billion in venture funding during 2021.

What Do You Meme?


What’s Poppin’?

Polygon x Uniswap

Uniswap v3, the second largest DEX by total value locked, is now live on Polygon, an Ethereum scaling solution.

The launch comes just over a month after Polygon co-founder Mihailo Bjelic posted a proposal on Uniswap’s governance forum and less than a week after 72 million tokens voted in favor Bjelic’s proposal (compared to only 503,009 against).

The news appears to have boosted the price of Polygon’s native token, MATIC, which jumped to a new all-time high of $2.66 yesterday afternoon.

With Uniswap v3 live on Polygon, Bjelic expects quite a few benefits to arise. He specifically outlined “user base growth, huge savings for users, higher user activity, higher revenue, market capture, return to the original DeFi vision,” as areas that a Polygon x Uniswap relationship could improve in his original governance proposal.

And based on data from Etherscan, it appears that Bjelic could be correct, as an average Uniswap swap on Ethereum layer 1 cost $73 yesterday. Based on a test transaction, Uniswap v3 swaps on Polygon cost as low as .00089 MATIC, which is less than a cent.


Recommended Reads

  • Orca Protocol dropped a 2021 DAO roundup:

  • @AkadoSang on GameFi: https://unchainedpodcast.us19.list-manage.com/track/click?u=0085a41334b3edf854fd51f9b&id=df0caa8e42&e=3c1178619e
  • Circle on stablecoin myths: https://unchainedpodcast.us19.list-manage.com/track/click?u=0085a41334b3edf854fd51f9b&id=9dafa804c3&e=3c1178619e

On The Pod…

This Noble Family’s Art Was Taken by Nazis, But Is Being Saved by NFTs

The House of Lobkowicz has managed thousands of pieces of art and cultural artifacts, such as hand-annotated manuscripts by Mozart and Beethoven, for hundreds of years. Their collections were confiscated under Nazi and Communist regimes but were returned roughly 30 years ago. Now, the family intends to preserve, study, and share the collection with the world — and is using NFTs to make that happen. Hear how Will Lobkowicz, director of digital media & innovation for House of Lobkowicz, and Michelle Choi, NFT strategist, used NFTs to raise funds to maintain and preserve this collection. Show topics:

  • the Lobkowicz story of how a Bohemian noble family ended up in charge of a 20,000-piece collection spanning 100 different locations
  • how William and Michelle started working together
  • what effect COVID-19 had on the House of Lobkowicz’s preservation efforts
  • how Michelle and William formulated their plan for NFCastle from Michelle’s garage
  • what Michelle and William learned from interviewing hundreds of people in the NFT space
  • why Michelle thinks blockchain is an improvement upon the traditional art world’s use of physical ledger systems
  • William and Michelle’s favorite NFT projects from NFCastle
  • what projects the money raised from NFCastle will restore for the House of Lobkowicz
  • what William and Michelle learned from hosting NFCastle
  • how NFCastle went about determining royalties for secondary sales for their NFTs
  • what’s next for NFCastle

Book Update

My book, The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze, is now available for pre-order now.

The book, which is all about Ethereum and the 2017 ICO mania, comes out Feb. 22. Pre-order it today!

You can purchase it here: http://bit.ly/cryptopians

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