DeFi

Uniswap V3 May Be Deployed On Polygon zkEVM As New Proposal Coming Pass

Key Points:

Polygon’s scaling solution supplier Uniswap V3 seems to be preparing to debut the new zero-knowledge Ethereum Virtual Machine roll-up solution.
The 40 million vote threshold required for the plan to succeed has already been met, with over 42.4 million votes in support of the merger recorded.
Off-chain transactions will be validated and completed quickly as a result of the integration.

Uniswap, a decentralized exchange (DEX), will permit Polygon Labs to deploy Uniswap V3 on behalf of the community to the Polygon Zero Knowledge Ethereum Virtual Machine rollup known as “zkEVM,” and this plan is gathering traction.

Uniswap V3 May Be Deployed On Polygon zkEVM As New Proposal Coming Pass 3

Although Uniswap token holders have until April 14 at 9:05 p.m. UTC to vote on the proposal to launch Uniswap v3 on the zkEVM, the 40 million vote threshold required for the proposal to pass has already been met, with over 42.4 million votes in support of the integration recorded.

The proposal received support from all 192 Ethereum addresses, with financial modeling tool Gauntlet and Ethereum infrastructure company ConsenSys topping the voting total with nearly 7 million votes apiece.

According to Uniswap, having Uniswap V3 accessible on an EVM-compatible ZK rollup has tremendous benefits. Implementing zkEVM early on helps DEX cement its position as the number one DEX and thought leader.

Uniswap V3 May Be Deployed On Polygon zkEVM As New Proposal Coming Pass 4

Significantly, it will contribute to the expansion of the number of projects that can be created on Uniswap V3. Moreover, considering the community and user adoption Uniswap has had on Polygon PoS, it’s only reasonable to prioritize its implementation on Polygon zkEVM.

This proposal is not co-authored or sponsored by a delegate. Polygon Business Development Lead Jack Melnick, the proposal’s author, noted that now is the appropriate time to make Uniswap v3 accessible on Polygon’s zkEVM since it is EVM similar, which means there is no need to recompile EVM smart contracts. According to Melnick, the integration will also allow validation and quick finality of off-chain transactions.

As Coincu reported, Uniswap Labs has released a mobile wallet application to encourage further DeFi wallet use and to enable on-the-go trading.

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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.