Polygon: ‘Only Natural’ to Prioritize Uniswap V3 Deployment to zkEVM

A proposal from Polygon Labs seeks to entice Uniswap V3 to deploy on its new zkEVM Ethereum rollup, and $UNI voters are indicating the positive feelings are mutual. With several hours left to go in the Decentralized Autonomous Organization (DAO) vote, 100% of ballots have been cast in favor of the expansion.

An earlier proposal to expand Uniswap V3 to BNB Chain was highlighted by excitement and controversy when venture capital firm a16z threw its considerable (but ultimately futile) weight against the deployment (when the DAO selected Wormhole over a16z-backed LayerZero as its cross-chain bridging partner).

In contrast, the zkEVM vote appears to be free of such squabbling. According to the Tally voting dashboard, ballots cast by Conensys pushed the vote total beyond the quorum threshold needed to pass the proposal.

According to the proposal from Jack Melnick of Polygon Labs:

“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.”

“Importantly, it will help grow a large list of projects that can be built on Uniswap V3. Additionally, given the community and user uptake Uniswap has seen on Polygon PoS, it’s only natural to make its deployment on Polygon zkEVM a priority.”

As BSC News reported earlier this week, Uniswap V3 would be entering a Decentralized Exchange (DEX) field currently dominated by QuickSwap V3, which uses the concentrated liquidity model from Algebra DEX. Other competing DEXes are all either forks of Uniswap V3 or V2.

On the Polygon sidechain, Uniswap has about twice the exchange volume as QuickSwap, but QuickSwap has about twice the Total Value Locked as Uniswap.

According to DefiLlama, growth in TVL on Polygon zkEVM has been slow but steady since its launch at the end of March, and its TVL has just surpassed the $2 million level.

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What is Uniswap:

Uniswap was launched in November 2018 and has grown to become the largest decentralized exchange in its category. It was built open-source on the Ethereum blockchain and uses the AMM model to facilitate Ethereum ERC-20 token swaps. Uniswap

Much of the progress made in Ethereum-based DeFi expansion is attributable to Uniswap as it provided the market-making utility for Web3 apps to function in a decentralized environment. The platform consistently records daily trade volumes of over half a billion dollars and has a total volume locked (TVL) of more than $3 billion. The platform has traded over $1 trillion since it launched via over 129 million transactions.

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Where to find Uniswap:

Website | Twitter | Discord |

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What is Polygon:

Polygon is a “sidechain” scaling solution that runs alongside the Ethereum blockchain — allowing for speedy transactions and low fees. MATIC is the network’s native cryptocurrency, which is used for fees, staking, and more. The effectiveness of Polygon as an alternative to Ethereum has seen existing projects such as Aave and Curve adopting its chain.

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For more about Polygon:

Website | Twitter | GitHub | Reddit | YouTube