u.today
The world's second most popular DEX and one of the most used dApps ever, Uniswap (UNI), expands to a next-generation second-layer solution for Ethereum (ETH), Boba Network (BOBA).
Uniswap (UNI) comes to Boba Network (BOBA) as proposal passes
According to the joint official statement shared by Uniswap (UNI) exchange and Boba Network (BOBA) second-layer scaler, the platform has decided to add Boba Network (BOBA) to its toolkit of supported blockchains.
The results are in and the community has voted to launch Uniswap v3 on @BobaNetwork!
— Uniswap Labs 🦄 (@Uniswap) February 3, 2023
Congratulations to everyone involved 🧋
Thanks to the overwhelming support of the community, the proposal to expand Uniswap (UNI) to a new platform has passed with 51.01 million "yays" of the 40 million needed. The proposal was backed by all major UNI stakeholders, including FranklinDAO (previously Penn Blockchain), GFX Labs, Blockchain at Michigan, Gauntlet and ConsenSys.
The exchange is set to deploy its architecture on Boba Network (BOBA) in the coming weeks, per its team's projections.
Alan Chiu, co-founder and CEO of Enya Labs, Boba's core contributor, is excited about the Uniswap (UNI) expansion and claims that it will be a major milestone for Boba Network's (BOBA) progress:
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 layer atop of it that leverages Hybrid Compute to tap existing, TradFi-friendly KYC/AML services. As a result, Uniswap will become more accessible to the larger institutional market.
By press time, Uniswap (UNI) is the largest decentralized crypto exchange on Ethereum (ETH) with over $2.36 billion in total locked in smart contracts.
New community, new opportunities
The expansion to Boba Network highlights Uniswap's commitment to having its presence strengthened in the Asia Pacific region. Boba Network (BOBA) is a dominant L2 solution for the Korean and Japanese ecosystems.
To foster the progress of Uniswap (UNI) on Boba Network (BOBA), its foundation allocated $1 million in BOBA tokens for financial incentive programs focused on Uniswap's liquidity providers.
As covered by U.Today previously, Boba Network (BOBA) made headlines in Q4, 2022, by becoming the first L2 scaling solution for BNB Chain and Moonbeam (GLMR).