Wintermute-Backed DEX Bebop Launches on Polygon

Bebop, which is incubated by crypto market-maker Wintermute, first launched on the Ethereum blockchain this past June.

AccessTimeIconNov 8, 2022 at 1:00 p.m. UTC
Updated May 9, 2023 at 4:01 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Bebop, a decentralized exchange (DEX) incubated by crypto trading firm Wintermute, has launched on Polygon.

Compared to other DEXs, Bebop has the ability to trade a basket of tokens in a single transaction, a feature the project calls its signature “one-to-many” and “many-to-one” trading.

  • Three Crypto Predictions in 2024
    02:07
    Three Crypto Predictions in 2024
  • Crypto Market Leaders and Laggards in 2023
    01:50
    Crypto Market Leaders and Laggards in 2023
  • Why Injective's INJ Has Surged 3,000% in 2023
    00:52
    Why Injective's INJ Has Surged 3,000% in 2023
  • Ethereum Average Gas Fees Touched Highest Level in Six Months: Kaiko
    01:07
    Ethereum Average Gas Fees Touched Highest Level in Six Months: Kaiko
  • "Imagine the future where you are able to convert any digital asset you own to any other asset, from an NFT collectible on one chain to tokenized crypto company bond issued on another,” said Evgeny Gaevoy, CEO of Wintermute, referring to non-fungible tokens.

    Bebop says it chose to launch on Polygon due to the network’s “low fees, high speed and sustainable proof-of-stake model." Bebop first launched on the Ethereum blockchain this past June.

    By decentralized finance standards, “Polygon fees are negligible, which is paramount for delivering this efficiency to all users, for any transaction size,” said Bebop’s head of product, Katia Banina, in a statement.

    Bebop’s announcement also coincides with several other recent partnership announcements for Polygon.

    Last Wednesday, Facebook parent company Meta announced it would allow creators to sell NFTs on Instagram using technology offered by the Polygon blockchain. The same day, banking giant JPMorgan said it completed its first-ever decentralized finance transaction over Polygon.

    Polygon’s MATIC token has rallied 40% in the past week, reaching a six-month high of $1.29 on Monday, according to CoinDesk data.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Tracy Wang

    Tracy was the deputy managing editor at CoinDesk. She owns BTC, ETH, MINA, ENS and some NFTs.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


    Read more about