Following its launch on the Ethereum blockchain in June, Bebop, a decentralized exchange (DEX), incubated by crypto trading firm Wintermute, has now extended support to Polygon.

With the expansion of Bebop to Polygon, DEX aims to benefit from Polygon’s lower network fees and faster transactions, while getting the same price quality as Ethereum.

Katia Banina, Head of Product at Bebop, stated in an announcement: “By DeFi standards, Polygon fees are negligible, which is critical to bringing this efficiency to all users for any transaction size.”

Bebop is a decentralized exchange with a rare feature compared to other DEXes. The platform boasts of its ability to trade multiple tokens in a single transaction, a feature that Bebop calls its “one-to-many” and “many-to-one” trading signature.

Evgeny Gaevoy, Founder and CEO of Wintermute, noted: “Imagine the future where you can convert any digital asset you own into any other asset, from an NFT collectible on one chain to a crypto tokenized company bond issued on another. All this without even thinking about how it is possible, all thanks to advanced technology and maximum simplicity for the user”.

Although Bebop is just getting started with Ethereum and Polygon, as the exchange said, its first focus is to integrate cross-chain exchanges between these two blockchains. The team said the platform’s long-term vision is to enable “permissionless transfer of value in the multi-chain world.” Before its launch on Polygon, the platform already had more than 30,000 people on its waiting list.

This news comes amid the rush of various partnerships and the adoption of the Polygon blockchain. Last week, Instagram announced its collaboration with Polygon to introduce a non-fungible token (NFT) marketplace to be run with the support of Polygon. The same week, banking giant JPMorgan completed its first decentralized finance (DeFi) pilot on Polygon.

The outcome of these adoption and partnership agreements has had some impact on the blockchain’s native token, MATIC. Over the past few weeks, MATIC has risen over 40%, hitting a six-month high of $1.29 on Monday.

Meanwhile, at the time of writing, MATIC is currently hovering around $1.19, down 5% on 24-hour trading volume of $1,840,140,198, according to data from coinmarketcap.

Image Source: Bebop