On Polygon, Wintermute's DEX Bebop makes its debut

Key points: 

• Bebop, a decentralized exchange founded by crypto trading firm Wintermute, has launched on Polygon.

• Its announcement also coincides with several other recent collaboration announcements from Polygon.

• Polygon’s MATIC token has risen 40% over the past week, hitting a six-month high of $1.29 on Monday.

Compared to other DEXs, Bebop can trade a basket of tokens in a single transaction, which the project calls "one-to-many" and "many-to-one" transactions.

Evgeny Gaevoy, CEO of Wintermute, said: "Imagine the future where you can 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,e of the network's "low-fee, fast, and sustainable proof-of-stake model."

According to decentralized finance standards, “polygon fees are negligible, which is critical to providing all users with this level of efficiency at any transaction size,” Katia Banina, Bebop’s head of product, said in a statement.

Bebop's announcement also coincides with several other recent collaboration announcements from Polygon.

On Wednesday, Facebook parent company Meta announced that it would allow developers to sell NFTs on Instagram using technology provided by the Polygon blockchain. On the same day, banking giant JPMorgan Chase announced the completion of its first decentralized finance transaction via Polygon.

Polygon’s MATIC token has risen 40% over the past week, hitting a six-month high of $1.29 on Monday, according to Btcman data.