Uniswap Contributors Propose to Deploy V3 on Base

Three strong contributors of Uniswap ( she256, the Michigan Blockchain, and the GFX Labs) have yesterday submitted a proposal to the community for the deployment of Uniswap v3 on Base.

Base is an open-source, Coinbase’s Layer-2 EVM blockchain built on the MIT-licensed OP Stack. These contributors are members of Uniswap’s DAO. The proposal needs to be approved by the other Decentralized Autonomous Organization(DOA) members. This means that UNI token holders will cast a vote on the proposal.

GFX Labs, which has previously contributed to the deployment of Binance Smart Chain, Gnosis, and Moonbeam, will handle the technical deployment of contracts on the target chain if the proposal is accepted.

Also, she256 has more than 2.5 million UNI tokens and therefore will handle the on-chain vote.

According to the proposal document, a Request For Comment (RFC) process has begun that will last 7 days. The contributors hope to get the temperature check-up before the mainnet launch as well as to conduct an on-chain vote after mainnet deployment.

If the deployment is successful, Uniswap will launch as the officially recognized DEX for the Base. This would create massive publicity and improve its functionality for Base.

Recall that Coinbase launched Base in February which would serve as an on-chain home with the goal of providing developers with a more accessible, cost-effective platform for creating decentralized applications on-chain.

Coinbase is one of the top cryptocurrency exchanges looking into Layer 2 solutions to help the Ethereum network with its scalability and throughput problems. 

Uniswap is also one of the largest DeFi) platform, and has reached a significant milestone in terms of total value locked (TVL). Uniswap has solidified its position as one of the leading DeFi protocols in the crypto space.

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