DeFi

Uniswap Labs Declared Full Support For Ethereum PoS Upgrade

In the midst of growing interest in the event, Uniswap Labs declared complete support for Ethereum’s switch to proof-of-stake.

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On September 8, Uniswap Labs stated that it will fully support The Merge and not support any Ethereum hard fork on any of the platform’s applications. In addition, all Uniswap applications will continue to run smoothly and without the need for users to upgrade directly during ETH’s transition to Proof-of-Stake (PoS).

Last week, Uniswap Labs also expressed that they are eagerly waiting for The Merge. The transition to PoS will eventually benefit both Uniswap and Ethereum as Uniswap is the largest DEX on Ethereum. The Uniswap team asserts that The Merge serves as an important step in scaling Web3 and reducing Ethereum’s damaging environmental impact.

“Uniswap Labs supports The Merge and does not have plans to support any forks in our web app. The move from proof of work (PoW) to proof of stake (PoS) serves as an important stepping stone to scaling the Ethereum ecosystem and to reducing its environmental footprint immediately.”

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At the time of writing, it seems that Ethereum PoS has won the battle with support from many faces like AAVE, Chainlink, exchanges like Binance, and FTX.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.