Uniswap proposal to launch on Polygon zkEVM is about to go

Decentralized alternate (DEX) Uniswap is seemingly set to launch on the brand new zero-knowledge Ethereum Digital Machine (zkEVM) roll-up resolution from scaling resolution supplier Polygon.

Whereas Uniswap (UNI) token holders have till April 14 at 9:05 pm UTC to vote on the proposal to launch Uniswap v3 on the zkEVM, the 40 million vote threshold wanted for the proposal to go it has already been reached — with over 42.4 million votes recorded in favor of the combination.

All 191 Ethereum addresses voted in favor of the proposal with monetary modeling platform Gauntlet and Ethereum infrastructure supplier ConsenSys main the voting tally with over 7 million votes every in accordance to Tally, a voting dashboard for decentralized finance initiatives:

High votes in favor of integrating Uniswap v3 on Polygon zkEVM. Supply: Tally

The writer of the proposal, Polygon Enterprise Improvement Lead Jack Melnick, defined that now could be the “proper second” to make Uniswap v3 obtainable on Polygon’s zkEVM as a result of it’s “EVM equal” — which means that there isn’t any must recompile EVM sensible contracts:

“There’s vital worth in Uniswap being obtainable on an EVM suitable ZK rollup. Deploying early on zkEVM helps solidify Uniswap’s place because the primary DEX and a thought chief.”

The mixing will even present validation and quick finality of off-chain transactions, mentioned Melnick.

As well as, the excessive degree of adoption that Polygon has managed to harness makes integrating on Polygon’s zkEVM a “precedence,” he defined.

As for what components will make this deployment a increase or bust, Melnick pointed to a number of key on-chain metrics:

“A profitable zkEVM deployment will, in an natural and sustained method, develop Uniswap’s Complete Addressable Market throughout TVL, distinctive interacting pockets, volumes, and integration with companion dApps.”

“As demand for zk-blockchains and proximity to Ethereum rises, customers and builders will more and more look to zkEVM options to construct and commerce,” he added.

Melnick is assured the combination will pose “minimal dangers” at the least “relative” to different blockchains as a result of the Polygon zkEVM makes use of zero-knowledge proofs to inherit Ethereum’s safety.

The Polygon Bridge has been “disintermediated” and knowledge might be sourced from “respected” Oracle suppliers, Melnick added, which he expects will solely strengthen safety on the protocol degree.

Polygon’s zkEVM had its official mainnet launch on March 27.

Associated: Uniswap’s first governance vote fails… Regardless of 98% help

In an analogous transfer, Uniswap v3 built-in with the BNB Chain — a sensible contract blockchain constructed by Binance — on March 15.

The governance vote wasn’t as stark although, as solely 65% voted in favor of the proposal.

United States enterprise capital agency Andreessen Horowitz (a16z) — the biggest UNI token holder — voted in opposition to the BNB proposal with its 15 million UNI tokens.

Journal: ZK-rollups are ‘the endgame’ for scaling blockchains, Polygon Miden founder