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Uniswap v3 contracts deployment on Polygon approved with 99.3% consensus

December 19, 2021No Comments

The Uniswap community approved the governance proposal that sought the implementation of Uniswap v3 contracts on the Polygon PoS chain. The approval comes in the form of a chain vote that saw the participation of more than 72.6 million users in the community.

Uniswap Labs announced that it will implement Uniswap v3 contracts based on votes that reflect an approval consensus of greater than 99.3% and will be supported by a $ 20 million fund: $ 15 million for the liquidity extraction campaign to long-term and $ 5 million for general adoption of Uniswap on Polygon (MATIC).

Additionally, Bjelic also announced that it was the right time for Uniswap to roll out on Polygon citing its position as "the second strongest DeFi ecosystem, right after Ethereum L1." The businessman also shared his desire to encourage the adoption of Uniswap, both financially and technologically.

The proposal was published by Polygon CEO Mihailo Bjelic on November 20 and was open for voting until December 18, arguing that "deploying on Polygon PoS can bring many benefits", such as growing the base of users, huge savings for users, increased user activity, higher revenue, market capture and return to the original vision of DeFi.

Source: Uniswap

Before the chain vote for governance proposal UP010, Bjelic published a set of consensus Y temperature Check to identify the community sentiment behind the Uniswap v3 implementation:

โ€œConsensus verification 17 passed with 44M (98.87%) YES votes and 500,000 (1.13%) NO votes. Temperature control 7 passed with 7.79M (~ 100%) YES votes and 101 (~ 0%) NO votes. "

Related: Reddit and Polygon Co-Founder Launch $ 200 Million Web 3.0 Social Media Initiative

As Polygon strives to maintain a competitive position against the Ethereum ecosystem, the community announced a $ 200 million initiative with Seven Seven Six, a venture capital firm owned by Reddit co-founder Alexis Ohanian.

As Cointelegraph reported, the initiative will focus on supporting and hosting gaming applications and social media platforms based on Polygon's infrastructure. Polygon's explosive growth this year was supported by the launch of more than 3,000 decentralized applications on-chain and other protocol launches and cross-chain migrations.