• Uniswap’s version 3 (v3) was approved to be deployed on Boba Network in a community vote.
• This will allow Uniswap to expand its user base and transaction volume.
• The Boba Foundation has committed $1 million worth of BOBA tokens to foster the adoption of Uniswap v3 on the Boba Network.
Uniswap DAO Approves Boba Network Deployment in Latest Community Vote
The decentralized exchange Uniswap recently received overwhelming support from its community for the deployment of its version 3 (v3) onto the Boba Network, a separate blockchain that works atop Ethereum and allows for faster and cheaper transactions. As part of this additional use grant, the Boba Foundation receives license to use the Uniswap Code to fully deploy the Uniswap Protocol v3 onto Boba network layer 2 on Ethereum blockchain.
Opportunity To Expand Community
With its deployment on Boba Network, Uniswap has the opportunity to expand its community to include users within Boba’s multichain ecosystem, significantly increasing both its total value locked and transaction volume. Currently, Boba Network holds over $4.5 million in locked value.
Boba Foundation Commits Funds
The Boba Foundation has committed $1 million worth of BOBA tokens to foster the adoption of Uniswap v3 on the Boba Network. These funds will be sent to a multisig wallet co-owned by the Uniswap Grants Program and the Boba Foundation, which will distribute them among promising projects aiming at boosting adoption of Uniswap v3 on Base Network.
Benefits Of Deployment
Deploying V3 on Base network grants several benefits for both users and investors alike as it expands their user base with more people joining from different blockchains as well as bringing down transaction fees drastically due to high throughputs offered by Layer 2 networks like Base network built upon Ethereum mainnet. This could potentially increase total value locked in DeFi protocols & bring about more liquidity within this space leading towards financial inclusion for all participants involved directly or indirectly with cryptocurrency markets & DeFi protocols alike.
Overall, deploying V3 of Uinswap protocol onto Base network brings forth immense potential benefits for DeFi space as it increases liquidity & reduces transaction costs while also widening user base by allowing people from different blockchains like Bitcoin or Tron access Uinsawp services through Base network’s cross-chain capabilities making it easier for new users to join & transact using these protocols without worrying about technicalities involved with setting up wallets etc