The Uniswap has approved a governance proposal in favor of deploying Uniswap's version 3 decentralized exchange on Polygon zkEVM, a new ZK-Rollup solution compatible with the Ethereum ecosystem. All 42.4 million votes were in favour of the proposal with zero opposition.
Uniswap V3 is a decentralized exchange protocol that allows users to swap tokens and is one of the most widely used decentralized finance applications within the Ethereum ecosystem.
Polygon zkEVM is a new zero-knowledge rollup providing EVM equivalence, making it compatible with the existing Ethereum ecosystem and tooling. This allows developers to deploy existing Ethereum codebases with full equivalence.
Uniswap DAO approves proposal to deploy v3 on Polygon zkEVM https://t.co/zkZDFzzDd7
— The Block (@TheBlock__) April 14, 2023
As an Ethereum Layer 2 solution, Polygon zkEVM uses zero-knowledge proofs to inherit Ethereum's core security. ZK-Rollups validate and finalize transaction computations off-chain, before the data is confirmed on Ethereum. This set up enables faster transaction processing and greater scalability for Ethereum.
Uniswap v3 to deploy on Polygon zkEVM, for several major reasons:
- Polygon zkEVM is a new zk-rollup that provides Ethereum Virtual Machine (EVM) equivalence (opcode-level compatibility) for a transparent user experience and existing Ethereum ecosystem and tooling compatibility.
- An Ethereum L2 scalability solution utilizing cryptographic zero-knowledge technology to provide validation and fast finality of off-chain transaction computations.
- A new set of tools and technologies were created and engineered and are contained in this organization, to address the required recreation of all EVM opcodes for transparent deployment and transactions with existing Ethereum smart contracts.
- Polygon is aligned with Ethereum and its values.
After the approved proposal is executed, Uniswap will be officially released on the zkEVM and will join nearly 50 other projects, including apps such as Lens, Aavegotchi, and Quickswap, that already exist on the network, as previously noted by Polygon.
Uniswap V3 is already live on BNB chain. The leading Ethereum DEX also runs on Layer 2 sidechains like Arbitrum and Optimism.
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