Proposal For Uniswap V3 Launch On Polygon zkEVM Gets A Nod

The Uniswap DAO is officially marking its foray into the zero knowledge technology thanks to the approval of its latest governance proposal. The proposal is about Uniswap v3 deployment on Polygon Zero Knowledge Ethereum Virtual Machine (zkEVM). The community gave its full backing as the proposal argued that it is the right moment for Uniswap v3 to deploy on the zkEVM. Voting for the proposal ended earlier on April 14, 2023, with the community giving full support in favor of the deployment.

Also Read: ETH Vs BTC: Why Ethereum Price May Face Short Term Pain Ahead?

The Polygon zkEVM was launched in last week of March 2023, amid expectations that it could be one of the most watched events of 2023 in the web 3.0 space. The zkEVM network was developed to offer scalability solution for decentralized applications (Dapps) on the Ethereum blockchain.

Early Mover Advantage

The proposal defined growth in Uniswap’s Total Addressable Market across total value locked, unique interacting wallet, volumes, and integration with partner Decentralized Applications (DApps) as the success criteria. The team said it wants to take an early mover advantage in the zero knowledge space. Growth around zkEVM is centered around demand for zero knowledge based blockchains and proximity to Ethereum.

“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.”

Meanwhile, Uniswap Labs on Thursday announced it obtained Apple App Store approval for its wallet app. The latest version of Uniswap Wallet iOS software is now available to customers in the United States and many other countries.

Also Read: LUNC News: Core Developers Edward Kim, Zaradar Leave Joint L1 Task Force

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Reach out to him at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.