The Uniswap DAO is officially marking its foray into zero-knowledge technology with the approval of its latest governance proposal. The proposal is about Uniswap v3 deployment on Polygon Zero Knowledge Ethereum Virtual Machine (zkEVM). The community gave its full support as the proposal argued that now is the right time for Uniswap v3 to deploy on the zkEVM. Voting for the proposal ended earlier on April 14, 2023, with the community fully supporting the implementation.

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The Polygon zkEVM launched in the last week of March 2023, with expectations that it could be one of the most watched events of 2023 in the web 3.0 space. The zkEVM network was developed to provide a scalability solution for decentralized applications (Dapps) on the Ethereum blockchain.

Early Mover Benefit

The proposal defined growth in Uniswap’s Total Addressable Market across total value-locked, unique interactive wallet, volumes, and integration with partner decentralized applications (DApps) as success criteria. The team said it wants to take an early mover advantage in the zero-knowledge space. The growth around zkEVM is centered around the demand for no-knowledge blockchains and proximity to Ethereum.

“It is of great value that Uniswap is available on an EVM-compatible ZK package. By implementing zkEVM at an early stage, Uniswap is solidifying its place as the number one DEX and a thought leader.”

Meanwhile, Uniswap Labs announced Thursday that it has received Apple App Store approval for its wallet app. The latest version of Uniswap Wallet iOS software is now available to customers in the United States and many other countries.

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Anvesh reports major developments around crypto adoption and trading opportunities. He has been associated with the industry since 2016 and is now a strong advocate for decentralized technologies. Anvesh is currently based in India. Contact him at [email protected]

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.

This post Proposal for Uniswap V3 launch on Polygon zkEVM gets a nod

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