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Uniswap could become Multichain: leading decentralized exchange seems ready for Polygon

Uniswap v3 will likely be deployed on Polygonwhich gives the Ethereum layer 2 scaling solution a big stamp of approval.

Although Uniswap’s governance process has further phases, a Snapspot poll yesterday afternoon showed overwhelming support for the operation with 99.99 percent of the respondents. Only one UNI token was given against the proposal, while 19,140 tokens answered in the affirmative.

There are still two days to cast votes; Assuming things stay the same, the next step would be a vote in the chain.

Apollo Capital analyst David Angliss told Stockhead he didn’t know the security of the move, “but it definitely makes sense!”

Uniswap founder Hayden Adams tweeted about the idea but did not officially endorse it (although his exclamation point may show some level of enthusiasm).

👀 Uniswap governance proposal from @MihailoBjelic to deploy Uniswap v3 in Polygon!

Join the discussion here:

– hayden.eth 🦄 (@haydenzadams) November 20, 2021

Polygon co-founder Mihailo Bjelic wrote in his proposal that this is the right moment for Uniswap to come to Polygon and the platform is ready to incentivize the launch of Uniswap with a significant allocation of capital from its coffers .

“We are proud of the DeFi ecosystem that was established on Polygon PoS, but we still consider it incomplete without Uniswap,” he wrote.

Polygon generally no longer promotes liquidity incentives, but is ready to make an exception in this case, he wrote.

“Uniswap is a flagship DeFi project and we are ready to make a special effort to make it a success on Polygon.”

A bit of background

For crypto newbies, Uniswap v3 is the leading decentralized exchange with a volume of nearly $ 2 billion in the last 24 hours. Uniswap v2 had raised an additional $ 579 million, while Uniswap’s deployment on Arbitrum had processed an additional $ 103 million.

While Uniswap competitor Sushi is used on no fewer than 14 different chains, Uniswap is only used on the mainnet Ethereum and the scaling solutions Arbitrum One and Optimism.

Uniswap may become multi-chain and start with Polygon. One of Polygon’s co-founders just posted a tweet asking the Uniswap community to start Uni on Polygon.

Wild times

– 0xIntern (@ 0x_intern) November 20, 2021

Bjelic described Polygon as the second strongest DeFi ecosystem, right after Ethereum L1, a point some might argue with. At $ 4.65 billion, it is number 8 on the total banned value, according to DeFi Llama. Arbitrum is number 9 with $ 2.35 billion in TVL. The first three are Ethereum ($ 170.9 billion), Binance ($ 18.4 billion), and Solana ($ 14.3 billion).

But there is no question that Polygon has been widely successful in the crypto space and the largest blue-chip DeFi project out there would be a huge win.

@ 0xPolygon has so many great projects. It will be great to have Uniswap v3 to experiment with extremely low TX costs

If you want to learn about tons of DApps from web3, Polygon is still the place to go

– Josh (@JDHyper) November 23, 2021


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