Fun

Uniswap Community Votes to Deploy v3 on Polygon, Contract Support Coming in a Few Days

News Feed - 2021-12-20 04:12:01

Uniswap Community Votes to Deploy v3 on Polygon, Contract Support Coming in a Few Days


One of the largest decentralized exchange (dex) platforms in terms of trade volume, Uniswap, has announced that the dex community has approved a governance proposal to support the Polygon blockchain. Uniswap to Support Polygon PoS Blockchain


In terms of trade volume, statistics show that Uniswap version three (v3) commands the largest 24-hour trade volume with $1.5 billion swapped during the last day. As far as total-value locked (TVL) in defi is concerned, Uniswap has $8.6 billion on December 19, 2021. That’s the second-largest TVL below Curve Finance’s $21.8 billion TVL. On December 18, the official Uniswap Labs Twitter account notified the public that the Uniswap community has voted to support the deployment of Uniswap v3 contracts on the Polygon (MATIC) network.


“The Uniswap community has voted to deploy v3 on Polygon through the governance process. Uniswap Labs will deploy Uniswap v3 contracts within a few days. Stay tuned,” Uniswap Labs said on Saturday.


Uniswap has already adopted two layer-two (L2) protocols which include Arbitrum One and Optimism. Both of these protocols leverage optimistic rollups so users can save on transfer fees leveraging the Etheruem network. While l2fees.info indicates that it costs $31.74 to swap tokens onchain via layer-one (L1), swaps using Arbitrum will cost $2.63 and swaps using Optimism will cost $2.29. Polygon’s CEO Mihailo Bjelic: ‘Polygon PoS Can Bring a Lot of Benefits to Uniswap’


Polygon’s CEO Mihailo Bjelic introduced the Uniswap proposal on November 20 as he said that “Polygon PoS can bring a lot of benefits” to the dex. Bjelic further insisted that “Polygon PoS is battle-tested,” and “Polygon is aligned with Ethereum and its values.” When Bjelic published the proposal, one supporter wrote: “I would love to see Uniswap v3 on Polygon chain. ETH fees [are] just killing all of us. Polygon is the battle-tested solution which can save users from slow [transaction] and high fees.”


The Polygon blockchain has been integrated with a number of platforms like Curve, Aave, and Opensea. Curve Finance, however, supports seven different blockchains which also include Avalanche, Fantom, Arbitrum, Harmony, and Xdai. Polygon recently revealed launching a $200 million fund to bolster social media with Web3 and blockchain technology. Furthermore, after acquiring the Hermez Network (now Polygon Hermez) for $250 million in August, Polygon paid $400 million for the Mir protocol. Tags in this story Arbitrum, Avalanche, decentralized exchange, decentralized finance, DeFi, defillama.com, DEX, ETH fees, Fantom, governance vote, Harmony, L1, L2, l2fees.info, Mihailo Bjelic, Mir Protocol, Polygon, Polygon (MATIC), Polygon Hermez, Polygon Network, uniswap, Uniswap community, Uniswap governance protocol, Uniswap Polygon, uniswap v3, xDAI


What do you think about Uniswap supporting the Polygon network? Let us know what you think about this subject in the comments section below. Jamie Redman


Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 4,900 articles for Bitcoin.com News about the disruptive protocols emerging today. Value Locked in Defi Continues to Slide, ETH Defi Dominates by 65%, Solana Transactions Reign DEFI | 3 days ago Polygon Acquires Mir Protocol in $400M Deal in Order to Bolster "Groundbreaking ZK Rollup Tech" DEFI | Dec 12, 2021


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleIndian Lawmaker Says Crypto Must Be Blocked if Used for Illegal Purposes Show comments More Popular NewsIn Case You Missed ItNBA Legend Kevin Durant Joins Coinbase to Help Promote the Crypto Exchange’s Brand


American professional basketball player for the National Basketball Association (NBA) Kevin Durant, is joining Coinbase according to a recent report from Bloomberg. According to the report, Durant will appear as “a face of the brand” and will help promote the ... read more.Lending Platform Ledn Launching Bitcoin-Backed Mortgage Product, Raises $70 Million Indian Crypto Exchange Says 82% of Users Earn Profits This Year, Trading Volume Soars 1,735% Canaan Secures Order for 30,000 Bitcoin Mining Rigs From Genesis Digital Assets Russia to Decide Between Full Ban and Legalization of Crypto Investments, Trade

News Feed

Coinbase Confirms ‘No Financing Exposure’ to Bankrupt Crypto Firms Celsius, Voyager, Three Arrows Capital
Coinbase Confirms "No Financing Exposure" to Bankrupt Crypto Firms Celsius, Voyager, Three Arrows Capital Crypto exchange Coinbase has confirmed that the company “had no fin
Crypto market ‘underestimates the long-term impact’ of Bitcoin halving: Bitwise
Martin Young3 hours agoCrypto market ‘underestimates the long-term impact’ of Bitcoin halving: BitwiseIn the month after past Bitcoin halvings, its price saw little movement — but in the next year, it saw significa
BTC price settles at $69K after dip wipes $1.3B Bitcoin open interest
William SubergJun 08, 2024BTC price settles at $69K after dip wipes $1.3B Bitcoin open interestBitcoin lingers lower following a “doubly strange” U.S. trading session, with BTC price support in question.13329 Total v
UN adopts first global artificial intelligence resolution
Amaka Nwaokocha1 hour agoUN adopts first global artificial intelligence resolutionThe resolution encourages countries to safeguard human rights, protect personal data, and monitor AI for risks.459 Total views25 Total sha
Bitcoin analyst PlanB predicts 10 months of ‘face melting FOMO’
Zoltan Vardai8 hours agoBitcoin analyst PlanB predicts 10 months of ‘face melting FOMO’PlanB’s bull market signal flashed as Bitcoin price was trading firmly above the $62,000 mark.11282 Total views10 Total sharesL
Zilliqa battles back-to-back network disruptions amid latest upgrade rollout
Alek Hidell10 hours agoZilliqa battles back-to-back network disruptions amid latest upgrade rolloutFollowing a series of network disruptions, Zilliqa has restored network functionality and is focused on debugging amid it
Crypto Economy Swelled 80,466% Since 2013, Despite $1.5 Trillion Loss in 2022 Downturn
Crypto Economy Swelled 80,466% Since 2013, Despite $1.5 Trillion Loss in 2022 Downturn Nine years and nine months ago, on May 9, 2013, coinmarketcap.com recorded 14 cryptocurrency
Vitalik Buterin says OpenAI’s GPT-4 has passed the Turing test
Tristan Greene6 hours agoVitalik Buterin says OpenAI’s GPT-4 has passed the Turing testButerin’s comments reference new research indicating most humans can no longer tell when they’re talking to a machine.3736 Tota
Gibraltar Stock Exchange Receives Purchase Proposal by Blockchain Firm
Gibraltar Stock Exchange Receives Purchase Proposal by Blockchain Firm The stock exchange of Gibraltar, a British territory, has received a purchase offer by a blockchain firm call
Brian Nibley15 hours agoBitcoin and crypto brace for further upside as equities look to extend their recent gainsA variety of macro factors propelled the recent rally across several asset classes, but analysts are at odd
Blockchain Firm Asks Nevada State for Permission to Build a Crypto ‘Smart City’ in Storey County
Blockchain Firm Asks Nevada State for Permission to Build a Crypto "Smart City" in Storey County A crypto “smart city” could become a reality in Neva
Abkhazia Extends Internet Restrictions for Cryptocurrency Miners
Abkhazia Extends Internet Restrictions for Cryptocurrency Miners The government in Abkhazia has extended an order prohibiting access to internet sites used by cryptocurrency miners