Uniswap to Deploy on Boba Network: Successful Governance Vote
• Uniswap V3 is deploying on Ethereum’s layer 2 protocol Boba Network following a successful governance vote from the Uniswap community.
• The community overwhelmingly voted in favor of the proposal, with 51.01 million answering YES out of the 40 million needed to pass it.
• Boba Network supports lightning-fast transactions and fees 40-100 times less than other networks.
Uniswap to Deploy on Boba Network
The leading decentralized exchange (DEX) Uniswap v3 will be deploying on Ethereum’s layer 2 protocol Boba Network following a successful governance vote from the Uniswap community. A proposal was earlier submitted by the Boba Foundation and FranklinDAO, which had backers such as GFX Labs, Blockchain at Michigan, Gauntlet, and ConsenSys. Out of 40 million votes needed to pass it, 51.01M voted in favor of it. This deployment will result in faster transactions with low fees compared to other networks like Ethereum mainnet.
The voting results have been positive for the deployment of Uniswap v3 on Boba Network with majority voting in favor of it. This means that this development will take place in the coming weeks and users can benefit from faster transaction speeds with lower network fees than those observed on other networks like Ethereum mainnet.
Benefits of Layer 2 Protocols
Layer 2 protocols offer many advantages over traditional blockchain networks such as improved scalability, low transaction costs and speedier transaction confirmations while still maintaining decentralization principles that are core to blockchain technology’s architecture. As such, many projects are turning towards these protocols for their operations as they provide developers with more options when creating their applications or services without having to worry about slowdowns or high fees associated with traditional blockchains. By deploying Uniswap V3 onto Boba Network users benefit from improved scalability, lower transaction costs and quicker confirmation speeds all while retaining decentralization principles that are so important to blockchain technology’s architecture .
Boba Network Features
Boba Network is a layer 2 scaling solution powered by Hybrid Compute technology which already has multichain support for Avalanche, BNB Moonbeam and Fantom platforms allowing developers access to hybrid off chain/on chain DeFi applications built atop of Uniswap protocol easily compliantly . Commenting on the development Alan Chiu ,Bobas core contributor said “Bobas Hybrid Compute makes it possible for ecosystem developers build new generation hybrid applications atop unswaps while still remaining permissionless ” .
In conclusion ,the successful vote results mean that Uniswap V3 will be deployed onto Bobas network shortly offering users faster transactions ,lower fee structures all while benefiting from decentralisation provided by blockchain technology .