Polygon, 0x Spend $10.5 Million in Ethereum DeFi Developer Push

[EAA-ALLAH]

The teams behind decentralized exchange protocol 0x and Ethereum scalability platform Polygon today announced they are spending $10.5 million in a bid to get users to use the Polygon network. The cash, they say, will make it easier for developers to build DeFi infrastructure on Polygon via Ethereum. Polygon is an Ethereum layer 2 scaling solution. Previously known as Matic, it allows developers building on Ethereum to do so quickly and relatively cheaply. Ethereum is known to have issues with functionality, and has been at times prohibitively expensive to use. gas">Gas fees (what one pays to keep the network running) have hit historic highs over the last several months, due to the sheer amount of people using the network. Those fees have since come down a bit over the last week, as the price of Ethereum has dropped. Polygon aims to fix scaling and cost issues on Ethereum by using a “sidechain” solution: a semi-independent blockchain">blockchain that works in tandem with an associated “main chain” (in this case, Ethereum)—to improve its speed or capabilities.Source