Uniswap, (DEX), is expected to launch on Polygon’s zkEVM, a new zero-knowledge Ethereum Virtual Machine roll-up solution.
Uniswap’s token holders voted in favor of the proposal, which required a 40 million vote threshold, with over 42.4 million votes recorded in favor of the integration.
The proposal received unanimous support from all 191 Ethereum addresses. The financial modeling platform Gauntlet and Ethereum infrastructure provider ConsenSys led the voting tally with over 7 million votes each.
The Polygon Business Development Lead, Jack Melnick, who proposed the integration, stated that it was the “right moment” to make Uniswap v3 available on Polygon’s zkEVM because it is “EVM equivalent.”
This means there is no need to recompile EVM smart contracts. Melnick believes that the integration will provide validation and fast finality for off-chain transactions. Additionally, the high level of adoption that Polygon has managed to harness makes integrating on Polygon’s zkEVM a “priority.”
Melnick also identified several key on-chain metrics that would make this deployment a boom or bust. He stated that a successful zkEVM deployment would grow Uniswap’s total addressable market across TVL, unique interacting wallet volumes, and integration with partner dApps.
Melnick is confident that the integration will pose minimal risks relative to other blockchains because the Polygon zkEVM uses zero-knowledge proofs to inherit Ethereum’s security.
Furthermore, the Polygon Bridge has been “disintermediated,” and data will be sourced from “reputable” oracle providers, which Melnick expects will only strengthen security at the protocol level.
Uniswap v3 has also integrated with Binance’s BNB Chain, a smart contract blockchain built by Binance, on March 15. However, the governance vote was not as unanimous, with only 65% voting in favor of the proposal.
United States venture capital firm Andreessen Horowitz (a16z), the largest UNI token holder, voted against the BNB proposal with its 15 million UNI tokens.
Uniswap to launch on Polygon
In conclusion, Uniswap’s integration with Polygon’s zkEVM is expected to provide several benefits, such as validation and fast finality for off-chain transactions, zero-knowledge proofs to inherit Ethereum’s security, and minimal risks relative to other blockchains
This integration is also expected to grow Uniswap’s total addressable market and solidify its position as the number one DEX and a thought leader.