Nearly all of the votes were in favor of putting Uniswap on zkSync, and users staked over 72 million UNI to make it happen.
After a governance vote is over, the decentralized exchange (DEX) Uniswap will soon be added to the layer 2 solution zkSync, which is focused on privacy.
Uniswap is a cryptocurrency exchange that is based on smart contracts. Its governance token, UNI, lets users trade, sell, and borrow assets. On the other hand, zkSync uses a new technology called zk-rollups to offer users a scaling solution that focuses on privacy and makes transactions faster and cheaper.
Matter Labs, which makes and takes care of zkSync, brought the idea to the community.
The company said that more than 100 projects, including top DeFi protocols, infrastructure, and on/off ramps, have agreed to launch on the mainnet as part of the zkSync ecosystem. Matter Labs also said that deploying on zkSync would make it easier for new users to join the decentralized exchange and encourage more people to use it by lowering costs compared to Ethereum without sacrificing security.
Matter Labs said in its proposal, “There is a lot of value in having Uniswap on an EVM-compatible ZK rollup.” “Deploying zkSync early helps Uniswap cement its position as the top DEX and a thought leader.”
Nearly all of the votes were in favor of putting Uniswap on zkSync, and users staked over 72 million UNI. There were only 120 votes against the proposal, which is close to 0%.
Since February 2022, zkSync has been on testnet. The developers say in the proposal that Uniswap’s launch on the solution could happen in the “next 4-6 weeks.”
The move comes after Uniswap Labs announced on Thursday that its latest round of fundraising, which Polychain Capital led, would bring in $165 million. With the money, Uniswap will be able to put more money into its web app and developer tools, launch its non-fungible token (NFT), and move to help mobile users.
