Uniswap to Deploy on Boba Network: 51.01M Vote Yes!
• Uniswap V3 will be deployed 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 to Deploy on Boba Network
The 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. The proposal was submitted by the Boba Foundation and FranklinDAO with backers such as GFX Labs, Blockchain at Michigan, Gauntlet, and ConsenSys. 51.01 million answered YES out of the 40 million required for passing it, thus enabling Uniswap v3’s deployment to Boba in the upcoming weeks.
Boba Network Overview
Boba Network is an Ethereum-based layer 2 scaling solution which utilizes Hybrid Compute technology which supports lightning-fast transactions with fees that are 40-100 times lower than other layer 1 networks like Ethereum mainnet or Avalanche, BNB, Moonbeam or Fantom etc. It provides developers a platform where they can build compliant layer DeFi applications atop of Uniswap while maintaining permissionlessness of the protocol itself.
Reaction from Alan Chiu
Commenting on the development Alan Chiu who is one of Boba’s core contributors said: “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 this would help them optimize costs while increasing speed & performance when building projects leveraging off-chain data sources & services that require instant finality & low latency response times.
Benefits for Developers
The addition of Uniswap V3 onto the platform will open up new opportunities for developers looking to build projects utilizing off-chain data sources & services as it offer advantages such as optimized costs and increased speed & performance due to instantly finality along with low latency response times offered by Boba network compared to other layer 1 solutions like Ethereum mainnet or Avalanche etc .
It remains to be seen how this development impacts DEX users but all indications suggest that deploying Unswip v3 onto Ethereum’s Layer 2 protocol -Bobba Network- could prove beneficial both for developers looking to create projects using off chain data sources and services as well as general users who would enjoy faster transaction speeds at lower cost thanks this integration.
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