25 May 2023 09:45, UTC
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The proposal seeks to install Uniswap on the Fantom chain using the Axelar cross-chain interoperability protocol, a strategic move that will capitalize on existing market possibilities and boost Uniswap’s position in the DeFi domain.
Fantom Chain is a smart-contract platform that is extremely scalable and secure, allowing for the quick deployment of dApps. Fantom provides quick, safe, and low-cost transactions because of its unique Directed Acyclic Graph structure and powerful consensus process.
Fantom is EVM compatible, letting developers port and deploy their current Ethereum dApps on the Fantom Chain with ease. Because of this compatibility, as well as Fantom’s reduced transaction fees and quicker confirmation times, several Ethereum-based projects have chosen to grow and improve their operations on Fantom.
The Fantom team is also dedicated to developing cooperation with Ethereum through the Axelar Network in order to facilitate asset transfers between the two ecosystems. Fantom plays a critical role in pushing the wider use and progress of blockchain technology by creating an environment that supports and improves the Ethereum ecosystem. According to the proposal, deploying V3 on Fantom Chain provides several benefits to both Uniswap Laboratories and its users.
The current support percentage is 100%, and voting will conclude on May 31.
Upon the completion of the chain vote, Axelar will be in charge of deploying the Uniswap V3 smart contract on Fantom, while Uniswap Labs will be in charge of the front-end integration. The evaluation process is expected to take 4-6 weeks.
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