Uniswap, a leading decentralized exchange (DEX), is set to launch on the new zero-knowledge Ethereum Virtual Machine (zkEVM) roll-up solution from scaling solution provider Polygon. The announcement follows a governance proposal that was voted on by token holders of Uniswap’s native token, UNI. The proposal received over 42.4 million votes in favor of the integration, surpassing the required 40 million vote threshold needed for it to pass.
Uniswap’s deployment on the Polygon zkEVM is expected to solidify its position as the number one DEX and thought leader in the market. The new solution provides Ethereum Virtual Machine (EVM) equivalence for a transparent user experience and existing Ethereum ecosystem and tooling compatibility. It utilizes cryptographic zero-knowledge technology to provide validation and fast finality of off-chain transaction computations. This will allow for the creation of new tools and technologies to address the required recreation of all EVM opcodes for transparent deployment and transactions with existing Ethereum smart contracts.
Polygon Labs, the leading platform for Ethereum scaling and infrastructure development, will deploy Uniswap’s protocol to the Polygon Zero Knowledge Ethereum Virtual Machine rollup on behalf of the community. The Polygon network is the most adopted scaling effort in the Ethereum ecosystem, with over 3,000 applications hosted, 1B+ transactions processed, 100M+ unique user addresses, and ~$5B+ in assets secured.
The deployment of Uniswap on zkEVM is expected to grow the number of projects that can be built on Uniswap V3. Furthermore, it will increase the number of users interacting with Uniswap, leading to a larger total addressable market for the DEX.
There are minimal risks associated with deploying on zkEVM, and the deployment has been audited multiple times by reputable auditors, including Spearbit and Hexens. The primary risks include still unforeseen vectors, which can be mitigated through close work with Polygon developer support and gradual deployment of liquidity on the new chain.
The integration of Uniswap on the new zero-knowledge Ethereum Virtual Machine roll-up solution from scaling solution provider Polygon is expected to bring about positive changes to the DEX ecosystem. With its deployment on Polygon zkEVM, Uniswap will continue to lead the decentralized exchange market while growing the number of users and projects on its platform.
Read more:
- Uniswap Mobile Wallet Enables Direct Access To DeFi Services On IOS
- Gauntlet Receives Grant From Uniswap Foundation To Improve DAO Incentive Mechanisms