Version 3 (v3) of Uniswap will be deployed on Boba Network (BOBA/USD) in the coming weeks following the recent approval by the Uniswap DAO. The DAO community conducted a vote on the proposal, which was backed by ConsenSys and FranklinDAO, and a majority voted for the deployment.
After the rollout, uniswap will have the opportunity to expand its community by including users of the boba ecosystem, which will greatly increase the total locked-in value and the volume of transactions in the decentralized district. As of press time, Boba Network had a total value locked (TVL) of $4,589,305.
The rollout will also strengthen Uniswap's footprint in key Asian markets where Boba is very well adopted.
The news comes roughly two weeks after the Uniswap community voted for Uniswap to be deployed on BNB Chain.
Development of the Uniswap ecosystem.
The deployment is an interesting development since Boba Network is built on Ethereum and it allows users to enjoy cheaper and faster transactions and decentralized exchanges (DEXs) like Uniswap use smart contracts rather than third parties to provide their customers with financial services like borrowing and lending.
According to the proposal:
“The Boba Foundation is granted an additional use grant to use the Uniswap V3 Core software code. In the context of this supplementary user subsidy, the Boba Foundation is licensed to use Uniswap Code to fully deploy the Uniswap v3 Protocol on the Boba L2 Network on the Ethereum blockchain."
Boba Network also told a popular media outlet that it had committed approximately $1 million in BOBA tokens to boost Uniswap v3's adoption on Boba. The chips will be sent to a multi-ig portfolio jointly owned by the boba foundation and the uniswap grant program. And then distributed to promising projects based on boba.