• Uniswap’s Version 3 (v3) will be deployed on Boba Network following a favorable community vote.
• The proposal was backed by FranklinDAO and Ethereum development and investment lab ConsenSys.
• The Boba Foundation has committed to $1 million worth of BOBA tokens to foster the adoption of Uniswap v3 on the Boba Network.
Uniswap DAO Approves Boba Network Deployment in Latest Community Vote
The decentralized exchange (DEX) Uniswap’s Version 3 (v3) will soon be deployed on Boba Network following a favorable community vote with over 51 million UNI staked for the vote.
Proposal Backed By FranklinDAO and ConsenSys
The proposal was backed by FranklinDAO and Ethereum development and investment lab ConsenSys. This partnership allows for cheaper and faster user transactions compared to other blockchains.
Boba Foundation Commits $1 Million To Foster Adoption Of Uniswap v3
The Boba Foundation told CoinDesk that it had committed to $1 million worth of BOBA tokens to foster the adoption of Uniswap v3 on the Boba Network. These tokens will be sent to a multisig wallet co-owned by the Uniswap Grants Program and the Boba Foundation, which will distribute the funds to promising Boba-based projects aiming to boost the adoption of Uniswap v3 on the Boba Network.
Advantages Of Deploying On Boba Network
By deploying on Boba Network, Uniswap has an opportunity to expand its community base significantly increasing both its total value locked and its transaction volume. As of Tuesday, Boba Network holds over $4.5 million in locked value.
Conclusion
UniSwap has made a significant move towards expanding their platform by deploying V3 onto the layer 2 Blockchain, allowing for faster user transactions with larger potential userbase as well as greater rewards for users who participate in its network.