Algebra DEX has received a development grant from the Polygon Foundation
The Polygon solution for implementing performance enhancement.
Algebra is pleased to announce that we have received a grant from the Polygon Foundation. Polygon is the first full-featured solution for scaling projects, offering fast transactions and extremely low fees.
The grant will be used to continue the development of Algebra DEX at Polygon Network into a platform and to ensure full verification and security of all smart contracts on the network. The Polygon Foundation has also offered its support for the future development of the project.
Algebra Multichain DEX
Algebra is the newest and most unique Multi-Chain DEX on the scene, aiming to utterly reinvent DEXs as we know them. Algebra is accomplishing this by creating AMMs for each and every one of the main blockchain networks.
“In Polygon, because of the decent speed and cost of gas, we can do things on contracts that would not be possible in Ethereum, because they are simply not profitable.”
Smart contracts for Algebra protocols are developed in Solidity code — this is 100% compatible with the Polygon network. Polygon solution provides many benefits for all parties involved. The commission for interacting with a smart contract using Polygon is still less than $0.01 — as opposed to at least $10 on other networks. Also, the scaling provided by Polygon eliminates the problem of congestion, allowing you to process 7,200 transactions per second instead of 30 transactions per second. Low fees, high speed, same script — the benefits to Algebra.finance are huge.
Future development on the range.
Polygon was chosen because Polygon is an evolving, promising network with more attractive parameters. Its convenience and accessibility will help to attract more users for Algebra DEX. This will allow them to trade with extremely low commissions and fast confirmation, and increase their exposure to the token.
With Polygon support and a full suite of scaling tools to support Algebra, we aim to make Algebra DEX a unique product with fast transactions and low gas fees.
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 1200+ applications hosted, ~600M total transactions processed, ~60M 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.