The Uniswap cryptocurrency exchange will soon be available on Polkadot's parachain Moonbeam, according to a proposal approved at the Exchange Governance Forum on May 17. The proposal was put forward by Blockchain, a Michigan-based education group. It passed with nearly unanim ous support, With only one UNI token being used to vote against it. The exchange's smart contracts have already been deployed to Moonbeam (GLMR), the proposal says, and the only remaining task to fully launch it is “updating the front-end integration and including Moonbeam into the autorouter."
The exchange's initial liquidity may be low, as the proposal warns that "[d] due to volatile market conditions, the commitment to liquidity bootstrapping has been temporarily withdrawn." However, it also notes that Michigan's blockchain is exploring Ideas for applying for Moonbeam grants to provide liquidity as quickly as possible. The proposal says that if the grant is approved, it will be "on behalf of the DAO," meaning the funds will be held by Uniswap's decentralized autonomous organization.
In an accompanying announcement from Polkadot, Omar Elassar, head of business development at developer Parity Technologies, said he believed the new version will help improve speed and security for Uniswap users:
"Polkadot is a perfect fit for Uniswap, and its users can discover everything the network's parachains have to offer, such as high performance, scalability, security, and interoperability."
Polkadot is a network of interconnected blockchain networks called "parachains". These chains are interconnected and share security through the Polkadot relay chain. Moonbeam parachains are specifically focused on providing an Ethereum-like developer environment with the goal of enabling de developers to easily port their Ethereum applications to the Polkadot ecosystem. Uniswap is the world's largest decentralized exchange (DEX) by trading volume, with more than $480 million traded per day, according to CoinMarketCap. It was originally created for the Ethereum network, but has been actively expanding to other networks over the past few months. Uniswap launched the BNB Chain version on March 15th and deployed to Polygon zkEVm on April 14th. It also made an iOS mobile app on April 14 to bring more users online.
