Uniswap’s Bold Move to Polygon: Community Votes for V3 Deployment

Uniswap Community Joins Forces

The Uniswap community recently rallied together to approve a significant governance proposal for the deployment of Uniswap v3 contracts on the Polygon PoS Chain. With an impressive turnout of over 72.6 million votes, the consensus was overwhelmingly in favor, garnering a stunning 99.3% approval rate.

Financial Backbone for Development

To sweeten the deal, Uniswap Labs is putting a hefty $20 million fund into the mix. This includes $15 million earmarked for a long-term liquidity mining campaign—because, let’s face it, who wouldn’t want a fill-up on their DeFi tank? Meanwhile, the remaining $5 million will be directed towards enhancing this new partnership and boosting the overall adoption of Uniswap on Polygon (MATIC).

Timing Is Everything

Polygon CEO Mihailo Bjelic couldn’t contain his enthusiasm, stating this was the perfect moment for Uniswap to set its sails on Polygon’s growing potential. Bjelic characterized Polygon as “the second strongest DeFi ecosystem, right after Ethereum L1.” Talk about aiming high! He also expressed a keen interest in incentivizing Uniswap’s adoption through both financial incentives and technological support.

Behind the Scenes: The Voting Process

Before the formal vote, Bjelic made sure the community felt prepared with preliminary consensus and temperature checks. The results were crystal clear: Check 17 saw a whopping 44 million (98.87%) YES votes, while Check 7 posted near-perfect results with 7.79 million (~100%) YES votes. If that doesn’t scream enthusiasm, what does?

Competitive Spirit in the DeFi Space

As if this wasn’t enough, Polygon is also on the offensive with a bold $200 million initiative in collaboration with Seven Seven Six, a venture capital firm founded by Reddit co-founder Alexis Ohanian. This initiative aims to bolster gaming applications and social media platforms developed on Polygon’s robust infrastructure, propelling its explosive growth this year with over 3,000 decentralized on-chain applications launched. Who knew Polygon had more tricks up its sleeve?

The Future Looks Bright

In summary, the day is bright for Uniswap as they prepare for the rollout of v3 contracts on Polygon. With strong community support and substantial funding, they seem to be set on a path that could redefine their footprint in the DeFi universe. So, buckle up, folks! The DeFi rollercoaster is only getting started.