• Uniswap will be deploying on Ethereum’s layer 2 protocol Boba Network following a successful governance vote from the Uniswap community.
• The vote will result in Uniswap v3’s deployment to Boba in the coming weeks, which will support lightning-fast transactions and fees 40-100 times less than the Ethereum mainnet and other layer 1 networks.
• Boba Network’s Hybrid Compute technology will make it possible for developers to build new hybrid on-chain/off-chain DeFi applications atop of Uniswap.
Uniswap Set to Deploy on Boba Network
Leading decentralized exchange (DEX) Uniswap v3 will be deploying on Ethereum’s layer 2 protocol Boba Network following a successful governance vote from the Uniswap community. 51.01 million answered YES out of the 40 million needed to pass it, resulting in Uniswap v3’s deployment to Boba in the coming weeks.
Boba Network: Lightning-Fast Transactions & Low Fees
Boba Network is a layer 2 scaling solution powered by Hybrid Compute technology that supports lightning-fast transactions and fees 40-100 times less than the Ethereum mainnet and other layer 1 networks. The platform has already deployed multichain support for Avalanche, BNB, Moonbeam, and Fantom.
A New Generation of Hybrid On-Chain/Off-Chain DeFi Apps
Commenting on the development, Alan Chiu, Boba’s core contributor said that Boba Network’s Hybrid Compute will make it possible for ecosystem developers to build a new generation of hybrid on-chain/off-chain DeFi applications atop of Uniswap. While the Uniswap protocol will remain permissionless, developers will be able to build a compliant layered infrastructure across various blockchains.
Proposal Backers Include GFX Labs & Blockchain at Michigan
The proposal was earlier submitted by the Boba Foundation and FranklinDAO with backers including GFX Labs, Blockchain at Michigan, Gauntlet, and ConsenSys among others who voted yes for this move towards interchain communication between DEXs like Uniswap v3 and blockchains like Ethereum and Polkadot via cross chain bridges such as Thorchain or RenVM.
Conclusion: Improved Interoperability Across Blockchains
This development is significant as it opens up vast opportunities for improved interoperability between different blockchains while also enabling faster transactions at lower costs which could potentially lead to higher adoption rates amongst users across multiple chains.