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Uniswap, the biggest decentralised exchange (DEX) in the world, could soon be deployed in the Filecoin Virtual Machine (FVM). This deployment will happen if a vote by Michigan Blockchain aims to make this possible in the coming days.
According to the voting tracker, over 15.39 million UNI tokens or 99.99% have voted to approve the deployment. This means that more UNI holders need to vote in support since the proposers need 40 million votes. The vote will close on October 6.
Michigan Blockchain believes that it makes sense to deploy Uniswap in FVM because of the central role that Filecoin plays in the industry. Filecoin has grown to become the ‘de facto’ storage provider in the blockchain space. As such, they believe that Uniswap’s multichain vision will be furthered and enhance the decentralised data economy.
Uniswap Governance Proposal #50 is live!
— Uniswap Foundation (@UniswapFND) October 3, 2023
If passed, it will define a canonical implementation of V3 on the Filecoin Virtual Machine (FVM), a programmable EVM-compatible environment built over @Filecoin.
Voting closes Friday morning (EST).https://t.co/lyRqiVrols
Filecoin launched FVM a few months ago as it sought to expand its ecosystem. FVM made Filecoin programmable through the introduction of smart contracts. This means that developers in all industries like DeFi and gaming can now build and deploy their dApps in Filecoin.
FVM has been a big success, as I wrote here. Data compiled by DeFi Llama shows that there are over 14 million UNI in its ecosystem. The total value locked (TVL) in the network has jumped to more than $84.6 million, making it the 30th biggest chain in the world.
The biggest players in Filecoin ecosystem are liquid staking platforms like GLIF, STFIL. SFT Protocol, and MineFi. Therefore, if Uniswap deploys successfully, it could become the biggest platform in the ecosystem.
Filecoin has also launched additional features to grow its ecosystem. For example, they launched the Filecoin Web Services (FWS), which is a decentralised alternative to Amazon AWS and Microsoft Azure.
Uniswap, which started on Ethereum’s chain, has now deployed in several other blockchains like Arbitrum, Optimism, Polygon, Base, BNB, Avalanche, and Celo.
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