1/ Congratulations to @haydenzadams & the @UniswapProtocol team on the successful launch of $UNI token!👏
This is a significant moment for Uniswap, but also a time to address the issue of rising gas fees & how Matic can help Ethereum scale to ensure a bright future for #DeFi.
This is a significant moment for Uniswap, but also a time to address the issue of rising gas fees & how Matic can help Ethereum scale to ensure a bright future for #DeFi.
2/🙅♂️During the UNI issuance event, ETH gas prices reached highs of over 1000 GWEI for a ‘very fast’ transaction (~20 seconds), which caused huge congestion on the network leading to users reportedly spending over $20 per transaction in some instances.
3/🚧As the DeFi revolution continues its impressive upwards trajectory, the trickle-down effect will continue to cause the entire Ethereum ecosystem to experience an increase in transaction costs and slower confirmation times due to worsening network congestion.
4/🚀Matic Network was conceived to combat this very situation. Matic provides a secure, high-performance L2 solution for Ethereum transactions at a rate of 7,200 TPS, with gas fees less than 1/1000th the cost on the Ethereum mainchain (2-3 second transaction for ~$0.000002 USD).
5/👥The future of finance is decentralized, but we need scalable, low-cost infrastructure to remove the barriers of entry relating to cost and speed. Matic is providing the means to allow the DeFi ecosystem on Ethereum to continue its impressive growth and thrive.
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