Wednesday, May 29, 2024

Uniswap Labs To Deploy v3 Contracts Within Few Days.

Uniswap Labs is set to deploy the v3 contracts within a few days after its community showed support for the same on the Polygon network. The Uniswap community on December 18 had voted for the deployment of the v3 contracts through the governance process on the Polygon blockchain. The proposal was launched on November 20.

Mihailo Bjelic, Polygon’s CEO, believes the Polygon POS can bring a lot of benefits to the decentralized change (dex) platform. Highlighting that it is battle-tested, the Polygon blockchain is in line with Ethereum. Plasma is at the heart of the Polygon blockchain. It provides a framework for developing decentralized apps off-chain. Plasma is also regarded as the force behind Polygon blockchain’s mass adoption.

In the proposal discussion, Bjelic stated that it is the right time to authorize the deployment of Uniswap protocol to Polygon PoS. He shared some of the benefits, including higher user activity, user base growth, market capture, return to the initial DeFi vision, and huge savings for users etc.

The executive described Polygon POS as a very attractive and lucrative market. He said major Defi projects that are not using Polygon are losing out on a great opportunity. Bjelic believes this will result in a void in the market which would not be left open for long by competitors.

He also said that Uniswap will take care and make special efforts to make Polygon successful. The platform will do so by incentives. Since it’s about the success of Polygon, Bjelic said they will make an exception for incentives. As such, they are willing to commit about $20 million for this very purpose. The funds will be used for a long-term liquidity mining campaign, and it will be focused on driving adoption for Uniswap on the Polygon blockchain

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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