Uniswap Community in Full Agreement to Deploy V3 on Ethereum Layer 2 Solution Arbitrum
“Deploy Uniswap v3 on Arbitrum” gains overwhelming (100%) support, and creator Hayden Adams said they have already begun planning the deployment while remaining “incredibly excited” for Optimism as well.
Ahead of OffChain Labs’ Arbitrum roll-up technology’s launch on May 28 for developers, many popular projects like SushiSwap (SUSHI) and Chainlink (LINK) have announced support and plan to deploy on Ethereum's layer 2 scaling solution. Crypto exchange OKEx has also announced its support for Arbitrum for its users to avoid expensive gas fees.
Robert Leshner, the founder of another blue-chip DeFi Compound Finance, made a proposal to “Deploy Uniswap v3 on Arbitrum.”
The new scaling project that has been on testnet since last year offers drastically higher throughput and is much cheaper than Ethereum (ETH).
In development since 2018, Arbitrum is an “optimistic rollup” that means state changes are published with minimal inspection allowing for additional speed, but users can flag invalid updates as fraudulent, and updates are rolled back.
A rollup involves the aggregation of transactions in a smart contract on the sidechain that gets settled to the mainchain in the future.
I support deploying Uniswap v3 to Arbitrum and love the community’s zeal. https://t.co/8gaJCmVOKq
— 🤖 Leshner (@rleshner) May 26, 2021
“Not deploying to new and growing networks like Arbitrum and Matic just allows for other exchanges to come in and fill that spot. This could potentially eat into fees earned by governance in the future.”
The proposal for the deployment of Uniswap v3 on Arbitrum by either opening the Uniswap v3 license to include code or allowing community developers to implement Uniswap v3 on Arbitrum so far has received an overwhelming 100% votes in favor, with only 204 UNI against it.
“We have already begun work on interface support and planning the deployment,” said Uniswap creator Hayden Adams.
He further said that they remain “incredibly excited” for another layer 2 solution Optimism as well and will continue to work on it “targeting a deployment in the near future.”