The popular decentralized exchange, Uniswap, will soon be accessible on Moonbeam, a parachain within the Polkadot network, as per an approved proposal on the exchange’s governance forum on May 17. The proposal, backed by Blockchain at Michigan, received overwhelming support with only one UNI token casting a dissenting vote.
The smart contracts for Uniswap have already been deployed on Moonbeam (GLMR), with final launch preparations involving front-end integration updates and inclusion of Moonbeam in the auto router, according to the proposal.
Although initial liquidity on the exchange may be limited due to market conditions, the proposal mentioned that Blockchain at Michigan is considering applying for a Moonbeam grant to provide liquidity at the earliest opportunity. If approved, the grant would be obtained on behalf of the decentralized autonomous organization (DAO) associated with Uniswap.
In a statement by Omar Elassar, the business development executive at Parity Technologies, the Polkadot developer, the introduction of Uniswap to the network was seen as a means to enhance speed and security for its users. Elassar highlighted Polkadot’s suitability for Uniswap, emphasizing the benefits of high performance, scalability, security, and interoperability offered by the network’s parachains.
Polkadot operates as an interconnected network of blockchain parachains, with Moonbeam specifically designed to provide a developer-friendly environment similar to Ethereum, facilitating the seamless transition of Ethereum applications to the Polkadot ecosystem.
Uniswap, the largest decentralized exchange (DEX) globally in terms of trading volume, handles over $480 million in daily trading, according to CoinMarketCap. While initially built for Ethereum, Uniswap has been actively expanding its presence across other networks, including the launch of a BNB Chain version and integration with Polygon zkEVm. Additionally, the exchange released an iOS mobile app to streamline user onboarding.
