• Uniswap’s version 3 (v3) will be deployed on Boba Network following a favorable community vote.
• This move allows Uniswap to expand its userbase and increase the total value locked 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 V3 Deployment Approved by Community Vote
The community of Uniswap, a decentralized exchange (DEX), has voted overwhelmingly in favor of deploying version 3 (v3) of their platform on Boba Network. This move provides users with financial services such as lending and borrowing without third parties, while also allowing them to benefit from Boba’s multichain ecosystem, which offers cheaper and faster transactions than Ethereum.
Boba Foundation Commits Funds for Adoption
In order to incentivize people to adopt Uniswap v3 on the Boba Network, the Boba Foundation has committed $1 million worth of BOBA tokens towards projects that aid in its adoption. These tokens will be distributed by a multisig wallet co-owned by the Uniswap Grants Program and the Boba Foundation.
Significant Increase in Transaction Volume Anticipated
With its deployment on Boba Network, Uniswap stands to significantly increase both its total values locked and its transaction volume with an influx of new users from within Bobas multichain ecosystem. As of Tuesday, over $4.5 million was already locked up within this system.
FranklinDAO & ConsenSys Support Proposal
The proposal was supported by FranklinDAO and Ethereum development and investment lab ConsenSys, who collectively staked over 51 million UNI for this vote.
In conclusion, with its deployment on Boba Network, Uniswap looks forward to expanding its userbase and increasing both its total value locked and transaction volume significantly; all thanks to support from FranklinDAO & ConsenSys as well as funding from The Boba Foundation for adoption initiatives.