Uniswap governance proposed the deployment of version 3 to Arbitrum. Uniswap community has immensely supported the launch of the leading decentralized exchange’s V3 iteration on layer-two scaling solution, Arbitrum.
Uniswap creator Hayden Adams revealed the proposal’s voting result. He said that the governance vote received 41.35 million votes in favor and zero opposing votes from UNI token holders. Hayden also noted that this is 1.35 million more than the required threshold actually to pass a live proposal.
He said that the Uniswap team has already begun work to support and deploy Uniswap V3 smart contract on Arbitrum. In 2019 Arbitrum raised $3.7 million to explore smart contract scalability and launched the first Rollup system in early 2020.
Compound founder Robert Leshner created a Snapshot poll saying, “to gauge interest deploying Uniswap V3 to Arbitrum”. He also said the move could help to grow a project that can build on Uniswap Version 3.
Arbitrum says it can offer drastically higher transaction throughput than Ethereum while slicing gas fees to near zero. DeFi projects such as uniswap will be essential in the ongoing “Scaling wars” with layer two solutions like Polygon, Optimism.
Extolling the benefits of L2 scaling, Adams said that, “Layer 2 solutions will unlock enormous UX benefits, with fast finality and low tx fees. However, we caution the community to take things slowly: this is an experimental technology that requires serious battle testing before it can support economic activity at the scale of L1.”