Join Our Telegram channel to stay up to date on breaking news coverage
Decentralized automated market maker (AMM) Uniswap has received an almost 100% consensus from the community for its deployment on Polygon. Its deployment was announced by the official handle of Uniswap Labs through Twitter. The proposal was widely accepted as 73 million users voted in favor while 503,009 users voted against it.
Uniswap to be deployed on Polygon very soon
The AMM will go live on Polygon n its third iteration (V3), based on the initial proposal. Following the wide acceptance by the community, Uniswap says it will be deploying v3 within a few days.
Polygon’s co-founder Mihailo Bjelic stated that the proposal is coming at the right time. He added that Polygon has one of the “strongest DeFi ecosystems”, which means its implementation could increase Uniswap’s user base.
The deployment will be supported by a $20 million fund, with $5 million set aside for Uniswap’s adoption on Polygon while $15 million will be for a long-term liquidity mining campaign.
Thousands Of Users To Be Onboarded
Bjelic published the proposal on November 18 and was open for voting on December 18. Bjelic stated that the deployment of Uniswap on Polygon’s Proof-of-Stake network will bring so many benefits. These include a return to the original DeFi vision, market capture, higher revenue, and higher user activity. Bjelic added that the comeback to the original DeFi version will provide people will inclusive financial solutions.
Before the voting by the Uniswap community, Bjelic released a set of temperature and consensus checks, identifying the community sentiment behind the deployment of Uniswap v3.
Many users expect a decrease in the cost of usage for Uniswap when its deployed on Polygon. But there will be an increase in users’ activity, according to the co-founder. It will enable thousands of users to give conformable access to the platform since DeFi provides an open and inclusive financial system.
Your capital is at risk.
Read more:
Join Our Telegram channel to stay up to date on breaking news coverage
