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Version 3 (v3) of the decentralized exchange Uniswap will soon be deployed on Boba Network following a favorable community vote.
Boba network is a separate blockchain that operates at the top of Ethereum and enables less expensive and faster user transactions. Both decentralized (dex) and uniswap exchanges rely on intelligent contracts rather than third parties to provide users with financial services, such as loans and borrowings.
The uniswap community voted massively for this measure. It was supported by FranklinDAO and Ethereum ConsenSys development and investment laboratory.
Over 51 million UNI were staked for the vote. (Uniswap)
"The Boba Foundation is granted an additional use grant to use the Uniswap V3 Core software code," the proposal stated. Under this extra user subsidy, the Boba Foundation receives the license to use the Uniswap Code in order to fully deploy the Uniswap v3 Protocol on the Boba L2 network on the Ethereum blockchain."
With its deployment on Boba Network, Uniswap has the opportunity to expand its community to include the users within Boba’s multichain ecosystem, significantly increasing both its total value locked and its transaction volume. As of Tuesday, Boba Network holds over $4.5 million in locked value.
In the meantime, the boba foundation told coindesk that it had pledged $1 million in boba chips to promote the adoption of uniswap v3 on the boba network.
These tokens will be sent to a cross-section portfolio belonging to the uniswap grant program and the boba foundation, which will allocate funds to promising boba-based projects aimed at stimulating the adoption of uniswap v3 on the boba network.
In this respect, the movement should also attract more traders based in Asia, where Boba claims to have a strong presence, in Uniswap.
"With its deployment on the Boba Network, Uniswap has the possibility to strengthen its presence in the main Asian markets, where Boba already benefits from a strong adoption," said the developers Boba CoinDesk.
