Uniswap V3 Launches on Avalanche C-Chain

Uniswap V3 has made its debut on Avalanche C-Chain, marking another major decentralized finance (DeFi) bluechip expanding to the Avalanche ecosystem. Following the footsteps of prominent DeFi platforms like Curve and Aave, Uniswap’s launch on Avalanche provides the network with yet another DEX option, complementing the existing Avalanche-native exchanges such as Trader Joe, Dexalot, and DeltaPrime.

The deployment on Avalanche was initiated through a governance proposal put forward by the University of Michigan’s blockchain club, Michigan Blockchain, in February. The proposal aimed to support a diverse and robust multi-chain future and take advantage of the growing ecosystem on Avalanche. The on-chain vote for the proposal passed with an overwhelming majority of 95% in favor.

LayerZero, an interoperability protocol, played a crucial role in facilitating the integration of Uniswap on Avalanche’s C-Chain. The protocol acts as a messaging layer, enabling communication between the Ethereum network (the host chain) and Avalanche (the destination chain). This seamless communication facilitates cross-chain asset transfers and governance proposals.

Expressing enthusiasm about the integration, Luigi D’Onorio DeMeo, Head of DeFi and Developer Relations at Ava Labs, the team behind Avalanche, stated, “We’re thrilled to welcome battle-tested DeFi mainstay Uniswap to C-Chain, strengthening the competition between DEXes on Avalanche.” DeMeo also highlighted the immense potential for DEXes on Avalanche, especially with the launch of new subnets that will bring additional liquidity to platforms like Uniswap. He emphasized the unique opportunities provided by Avalanche’s Warp Messaging feature, which sets it apart from other Ethereum Virtual Machine (EVM) chains.

Uniswap, introduced in 2018 on Ethereum, revolutionized the AMM model and quickly gained popularity in the DeFi space. The platform allows traders and liquidity providers to participate in decentralized trading through liquidity pools. With over 139 million trades and $1.5 trillion in trading volume, Uniswap has remained a leading DEX since its inception.

Read more:

Follow us on Telegram

Follow us on Twitter

Follow us on Facebook

Follow us on Reddit

You might also like