Uniswap DAO Revolutionizes Decentralized Trading With Polygon zkEVM Upgrade

Key Points:

• Uniswap DAO approves v3 deployment on Polygon zkEVM.
• Ethereum scaling with ZK-Rollups for popular apps.
• The governance proposal passed with 42.4M votes in support.

Uniswap DAO has approved a governance proposal to deploy Uniswap’s version 3 (or v3) decentralized exchange on Polygon zkEVM.

Polygon zkEVM is a new ZK-Rollup solution that is compatible with the Ethereum ecosystem. This move is significant as it continues the trend of popular Ethereum apps expanding to the new wave of ZK-Rollups that have recently launched, indicating that Ethereum is growing in its ability to offer its main features at scale.

The proposal was initiated by Polygon Labs, the core team behind the development of the Polygon zkEVM. The proposal passed with over 42.4 million votes in support and nil against. This comes after Ethereum’s top lending protocol Aave had previously passed a governance proposal to release its v3 platform on Polygon zkEVM mainnet in a temperature-check phase. The approval of this proposal is a significant milestone for both Uniswap and Polygon.

Uniswap v3 is a decentralized exchange (DEX) protocol that enables users to swap tokens. It is one of the most widely used decentralized finance (DeFi) applications within the Ethereum ecosystem. After the approved proposal is executed, Uniswap will be officially released on the zkEVM and will join nearly 50 other projects, including apps such as Lens, Aavegotchi, and Quickswap, that already exist on the network, as previously noted by Polygon.

The proposed deployment of Uniswap v3 on Polygon zkEVM will let users access the decentralized exchange from Polygon’s Layer 2 network. This means that transactions will be faster and cheaper compared to the Ethereum mainnet. Notably, Uniswap v3 already exists on the Polygon sidechain, separate from its newly released zkEVM Layer 2 network. This means that users already have access to Uniswap v3 on Polygon, but the deployment of Uniswap v3 on zkEVM will provide users with additional options and access to a faster and cheaper network.

In addition to the Polygon sidechain, Uniswap v3 is also available on multiple EVM-compatible chains, including Ethereum, Celo, BNB Chain, and other Layer 2 networks such as Optimism and Arbitrum. This means that Uniswap is accessible to a wider audience and can be used on different networks depending on the user’s preference or needs.

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