Summary:
- The DAO governing Uniswap approved a proposal to launch the platform’s third iteration exchange on Polygon’s zero knowledge Ethereum Virtual Machine or zkEVM.
- Polygon Labs submitted the proposal, gathering 42.4 million votes in support with zero opposition.
- The move comes after Ethereum’s leading lender Aave passed a temperature-check governance vote to deploy its service on Polygon’s newly launched zk mainnet.
The decentralized autonomous organization (DAO) governing Uniswap approved a proposal to launch the platform’s third iteration exchange on Polygon’s zero knowledge Ethereum Virtual Machine or zkEVM.
Uniswap V3 On Polygon zkEVM Mainnet
Polygon Labs, the minds behind Polygon’s new ZK-rollup network that’s compatible with Ethereum’s ecosystem, submitted the proposal. All 42.4 million votes cast backed the proposal with zero opposition.
The decentralized crypto exchange will launch alongside 50 other projects lined up to roll out on Polygon’s zkEVM solution. “it’s only natural to make its deployment on Polygon zkEVM a priority”, Polygon Labs cited as motivation for the proposal.
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.
Uniswap V3 already lives on several EVM-compatible blockchains like BNB chain. The leading Ethereum DEX also runs on Layer 2 sidechains like Arbitrum and Optimism.
zkEVM Expansion Narrative Steams Up
Indeed, the migration of flagship decentralized applications or dapps indicates increased confidence in Ethereum’s capacity to scale its features, particularly through zk technology. Leading DeFi lender on Ethereum, Aave, proposed launching its V3 platform on Polygon zkEVM. The proposal passed a temperature check vote with flying colors, garnering the support of community members.
The race could intensify between developers of zero-knowledge solutions as dapps pick their preferred Ethereum-based environment for expansion plans. Competition already exists between Polygon and another developer, zkSync. Both entities released their zkEVM tools in March.