The Uniswap ecosystem is expected to significantly benefit from Polkadot’s vast multi-chain capabilities and vice versa.
Uniswap, a leading decentralized exchange with a total locked value (TVL) of around $4.08 billion , is preparing to launch in Polkadot via Moonbeam parachain.
According to the Michigan Blockchain announcement, the proposal to deploy Uniswap V3 on Polkadot via Moonbeam Parachain was approved by a community vote with an approval rate of 99.99%.
GFX Labs is responsible for the technical implementation, while Warmhole is the selected cross-chain messaging solution acting as the bridge provider.
The Michigan blockchain acts as a sponsor of the Uniswap V3 proposal as it has more than 2.5 million UNIs, thus making it eligible to manage on-chain votes.
There are many benefits to having Uniswap V3 on the Polkadot ecosystem in the context of blockchain technology being widely adopted. Furthermore, Polkadot allows for multi-chain capabilities , thus improving liquidity on the Uniswap network.
“As UNI is a blue chip and is at the forefront of DeFi innovation, it was always our intention to implement Uniswap on Polkadot in some way,” a Uniswap spokesperson said .
