Uniswap is preparing to debut on the Polkadot chain following successful governance proposals to deploy the popular decentralized exchange on Gnosis and Moonbeam.
Uniswap Launches Governance Proposal to Debut on Polkadot
On May 12th, voting commenced within the Uniswap community regarding a governance proposal to deploy Uniswap version 3 on Gnosis and Moonbeam, a Polkadot parachain powering DeFi applications.
The proposal to deploy Uniswap on Moonbeam received 50,690,718 votes in favor and 3,078 against, while the proposal to deploy Uniswap on Gnosis saw 46,069,208 votes in favor and 3,078 against.
Uniswap to Launch on Gnosis and Moonbeam
With both proposals succeeding with more than 99.99% of the votes in favor, Uniswap Labs announced on Monday, May 23rd, that the decentralized exchange would be launching on both Moonbeam and Gnosis.
This means that Uniswap will gain support for two new chains in addition to its previous integrations of Ethereum, Polygon, Optimism, and Arbitrum. The move could result in further endorsement for Uniswap, which has $7 billion in total value locked (TVL) as of this writing, making it the third-largest DeFi platform.
On the Flipside
- Following an upgrade, the Uniswap protocol and other popular dApps are now directly accessible from the Coinbase (NASDAQ:COIN) app.
Why You Should Care
Uniswap is looking to expand its services to reach new corners of the DeFi ecosystem by launching on two new chains.
To learn more about the immense growth of Uniswap, read:
Uniswap Ranked as the Fastest-Developing Protocol
For info on the recent Coinbase app update and how it affects DeFi, check out:
Coinbase Expands List of Wallet App Features to Take DeFi-First Approach