- Uniswap DAO has agreed to deploy Uniswap v3 on the Boba Network.
- Approval after voting for the community.
- Deployment will increase the total value locked and transaction volume on Uniswap.
Version 3 (v3) of Uniswap will be published on the Boba Network (BOBA/USD) in the coming weeks after the recent approval of the Uniswap DAO. The DAO community held a vote on the proposal, which was endorsed by ConsenSys and FranklinDAO, and the majority voted to publish.
After publication, Uniswap will have the opportunity to expand its community by including users from the Boba Network ecosystem which will significantly increase the overall value of the closed decentralized exchange and transaction volume. As of the time of publication, the total value of Bupa Closed Network (TVL) is $4,589,305.
The publication will also boost Uniswap’s presence in key Asian markets where Boba enjoys strong adoption.
This news comes almost two weeks after the Uniswap community voted to publish Uniswap on the BNB chain.
Expanding the Uniswap ecosystem
The deployment is an interesting development given that the Boba network is built on Ethereum and allows users to enjoy cheaper and faster transactions and decentralized exchanges (DEXs) like Uniswap use smart contracts instead of third parties to provide their customers with financial services such as borrowing and lending.
according to the offer:
“The Boba Foundation has been awarded an additional usage grant to use the Uniswap V3 Core software token. As part of this additional usage grant, the Boba Foundation receives a license to use the Uniswap code to fully deploy the Uniswap v3 protocol on Boba Network L2 on the Ethereum blockchain.”
Boba Network also told a popular media outlet that it has allocated nearly $1 million in BOBA tokens to boost Uniswap v3 adoption of Boba. The tokens will be sent to a multi-signature wallet jointly owned by the Bupa Foundation and the Uniswap grant program. And then it will be distributed to promising projects based on Bupa.