• Polygon announced the launch of a new AMM protocol called Kokonut Swap on the Polygon zkEVM network.
• Kokonut Swap is an innovative Layer 2 platform powered by Zero-Knowledge (ZK) technology developed by the Polygon team, focused on stablecoins.
• The goal of Kokonut Swap is to become the go-to AMM protocol for the zkEVM ecosystem.
Polygon Launches New AMM Protocol
Polygon has officially launched a new Automated Market Maker (AMM) protocol called Kokonut Swap, on its own zkEVM network. This marks a major milestone for Polygon and its community as it looks to foster DeFi development and adoption in billion-$-marketplaces across the world.
Kokonut Swap: An Innovative Layer 2 Platform
Kokonut Swap is an innovative Layer 2 platform powered by Zero-Knowledge (ZK) technology developed by the Polygon team. The platform focuses primarily on stablecoins, aiming to solve slippage problems that users and other protocols face when exchanging them.
Kokonut Swap Aims To Become The Go-To Protocol
The main goal of Kokonut Swap is to become the go-to AMM protocol for the zkEVM ecosystem as Ethereum continues to scale through its rollup phase. It hopes to establish itself as a leading provider in this space, leveraging its strong support from within the Polygon community.
Polygon’s Bright Future In The ZK Rollup Space
As Ethereum scales through its rollup-centric roadmap, ZK rollups will emerge as its de facto execution layer and Polygon’s zkEVM has great potential to become one of these leading platforms due to its strong support from within their community.
Conclusion: Adoption Of DeFi Development And Adoption In Billion-$ Marketplaces
With this new launch, it’s clear that Polygon seeks to foster DeFi development and adoption in billion-$ marketplaces around world while providing users with an efficient way of exchanging stablecoins with very low slippage rates.