Categories: FintTechMenafn

Uniswap Community Behind Proposal To Launch V3 DEX On Polygon zkEVM

Summary:

  • The DAO governing Uniswap approved a proposal to launch the platform’s third iteration exchange on Polygon’s zero knowledge Ethereum Virtual Machine or zkEVM.
  • Polygon Labs submitted the proposal, gathering 42.4 million votes in support with zero opposition.
  • The move comes after Ethereum’s leading lender Aave passed a temperature-check governance vote to deploy its service on Polygon’s newly launched zk mainnet.

The decentralized autonomous organization (DAO) governing Uniswap approved a proposal to launch the platform’s third iteration exchange on Polygon’s zero knowledge Ethereum Virtual Machine or zkEVM.

Uniswap V3 On Polygon zkEVM Mainnet

Polygon Labs, the minds behind Polygon’s new ZK-rollup network that’s compatible with Ethereum’s ecosystem, submitted the proposal. All 42.4 million votes cast backed the proposal with zero opposition.

The decentralized crypto exchange will launch alongside 50 other projects lined up to roll out on Polygon’s zkEVM solution. “it’s only natural to make its deployment on Polygon zkEVM a priority”, Polygon Labs cited as motivation for the proposal.

There’s significant value in Uniswap being available on an EVM compatible ZK rollup. Deploying early on zkEVM helps solidify Uniswap’s place as the number one DEX and a thought leader.

Uniswap V3 already lives on several EVM-compatible blockchains like BNB chain. The leading Ethereum DEX also runs on Layer 2 sidechains like Arbitrum and Optimism.

zkEVM Expansion Narrative Steams Up

Indeed, the migration of flagship decentralized applications or dapps indicates increased confidence in Ethereum’s capacity to scale its features, particularly through zk technology. Leading DeFi lender on Ethereum, Aave, proposed launching its V3 platform on Polygon zkEVM. The proposal passed a temperature check vote with flying colors, garnering the support of community members.

The race could intensify between developers of zero-knowledge solutions as dapps pick their preferred Ethereum-based environment for expansion plans. Competition already exists between Polygon and another developer, zkSync. Both entities released their zkEVM tools in March.

Ryan Helton

A Stock enthusiast since childhood, Ryan is known for his impeccable knowledge in the technology and gadgets niche. He has been working with eTrendy Stock as a contributor for most stock category and his articles are always well-researched and accurate.

Recent Posts

RXR.Lab Launches World’s First Blockchain Crowdfunding-Lottery Platform to Break the System: Lottery, Crowdfunding, and Real Equity in One

RXR.Lab Highlights: The world’s first crowdfunding and lottery platform RXR.Lab will be grand launched on…

10 hours ago

Ripple Price Analysis: Could XRP Maintain $2 As Its Key Support Level?

XRP continues to drift lower, with its price struggling to stay afloat above $2.15. After…

19 hours ago

Sony Electronics Singapore Now Accepts USDC Payments via Crypto.com

Sony Electronics Singapore is now accepting payments in USD Coin (USDC) on its online store,…

1 day ago

<div>Delta Exchange: Pioneering INR-Settled Crypto F&O Trading in India</div>

In the last three months of the year, trading volumes for cryptocurrencies like Bitcoin and…

3 days ago

Pi Network’s Token Sheds 75% in Three Months as Skepticism Grows

The Pi Network (PI) has plummeted over 75% in the past three months, collapsing from…

3 days ago

Chummy Tees Review Rising Trends in the Funny T-Shirt Industry

Sonora, California, 30th March 2025, ZEX PR WIRE, As humor continues to shape popular culture,…

4 days ago