Uniswap Protocol to Launch on Polygon’s zkEVM Rollup After Successful Community Vote

B. Ali
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The Uniswap community has given its full support to a proposal to deploy the exchange’s protocol to the Polygon Zero Knowledge Ethereum Virtual Machine rollup (zkEVM). Hence, this was seen as good news for projects built on Uniswap v3, as they will now have access to the scaling benefits of Polygon’s zkEVM rollup.

It is worth noting that Uniswap is one of the most popular decentralized exchanges in the world and is known for its innovative approach to automated market-making. The UNI token is the native token of Uniswap and is used to facilitate transactions on the platform.

However, the decision to deploy the Uniswap protocol to Polygon’s zkEVM rollup was made by unanimous vote by all participating UNI token holders. This move will allow Uniswap to take advantage of Polygon’s scaling solution, which will help to reduce transaction fees and improve overall network performance.

Furthermore, the move is also significant because it shows the growing trend of decentralized exchanges adopting layer-2 scaling solutions. By utilizing these solutions, exchanges like Uniswap can provide faster and cheaper transactions while still maintaining the security and decentralization that users expect.

Uniswap’s Protocol to be Deployed on Polygon’s ZkEVM Rollup

Moreover, the integration of Uniswap’s protocol on Polygon’s ZkEVM rollup has received unanimous approval from all 191 UNI token holders. The proposal garnered more than 42 million votes in favor, exceeding the required threshold of 40 million votes.

However, the integration is expected to expand the number of projects built on Uniswap v3. Jack Melnik of Polygon Labs, who authored the proposal, believes that the integration will provide validation and fast finality for off-chain transactions.

Uniswap and Polygon Merger Proposal and its Benefits and Risks

The recent governance proposal to merge Uniswap’s v3 and Polygon’s zkEVM v3 has raised potential advantages and disadvantages for both parties. The integration could provide transparency for smart contracts but also carries risks that will likely influence the partnership.

Meanwhile, Polygon has expressed confidence in its progressive deployment of liquidity to address any issues before Mainnet. Uniswap’s TVL has increased by 8.33% over the past week, indicating consumers added more money to various chains covered by the platform.

Thus, the price of UNI has remained steady over the past 24 hours, but rose by 4.74% over the last week, while trading volume has reduced.

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Live webinar speaker and derivatives (Forex, Crypto, and Indices) analyst with a broad range of skills for evaluating financial data, investment trends, technical analysis, fundamental analysis, and the best ways to strategies investment selection.  Expertise: Trading Psychology; Speculative Positioning & Market Sentiment; Technical & Fundamental Analysis.