Uniswap to Deploy on Boba Network: Successful Governance Vote
• Uniswap V3 will be deploying on Ethereum’s layer 2 protocol Boba Network following a successful governance vote from the Uniswap community.
• The proposal was submitted by the Boba Foundation and FranklinDAO with backers including GFX Labs, Blockchain at Michigan, Gauntlet, and ConsenSys.
• 51.01 million voted yes out of the 40 million needed to pass it resulting in Uniswap v3’s deployment to Boba in the coming weeks.
Uniswap Set to Deploy on Boba Network
The decentralized exchange (DEX) Uniswap v3 will be deploying on Ethereum’s layer 2 protocol Boba Network following a successful governance vote from its community. The proposal for this deployment was submitted by the Boba Foundation and FranklinDAO with backers including GFX Labs, Blockchain at Michigan, Gauntlet, and ConsenSys.
Governance Vote Results
The results of the vote showed that 51.01 million answered „Yes“ out of the 40 million needed to pass it. This means Uniswap v3 will soon be deployed on Boba Network in the coming weeks.
Boba Network Overview
Boba Network is an Ethereum-based layer 2 scaling solution powered by Hybrid Compute technology which allows for lightning-fast transactions and fees that are 40-100 times less than those seen on other networks such as Ethereum mainnet and other layer 1 networks. It already has multichain support for Avalanche, BNB, Moonbeam, Fantom etc.
Expert Commentary
Alan Chiu who is one of Boba’s core contributors commented: “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.“ He further added that while the protocol remains permissionless, developers will have access to a compliant layer built atop it providing numerous benefits such as reduced latency costs etc.
Conclusion
The news has been welcomed by both members of the crypto space and DEX enthusiasts alike as it brings about an array of benefits for users who interact with these platforms such as faster transaction speeds and reduced fees among others