Uniswap to deploy on Polkadot, bringing enhanced DeFi functionality and features
Uniswap, the most popular decentralized exchange (DEX) by daily traded volume, is set to join Polkadot via the ecosystem’s native layer-1 parachain Moonbeam.
By Polkadot•May 16, 2023Moonbeam to serve as entry point for Uniswap V3 on Polkadot.
Uniswap, the most popular decentralized exchange (DEX) by daily traded volume and the biggest Dapp built on Ethereum by unique active wallets, is set to join Polkadot via the ecosystem’s native layer-1 parachain Moonbeam. This initiative, led by Michigan Blockchain, follows a successful governance vote.
Uniswap enables users to trade cryptocurrencies in a trustless, permissionless, and non-custodial manner. Its arrival in the Polkadot ecosystem introduces liquidity, visibility, and momentum towards the development of a new world of decentralized financial products and services on Polkadot.
Uniswap will be available in its V3 iteration, a major upgrade to the popular DEX. It offers several benefits over previous versions, including improved capital efficiency and more flexible and customizable fee structures, all delivered through a greatly improved UX. The deployment of Uniswap V3 on Moonbeam will make it possible for all Polkadot users and parachains to immediately benefit from these features upon launch.
Omar Elassar, Global Head of Ecosystem Growth & Business Development at Parity Technologies, a leading contributor to the Polkadot network,said: “We are thrilled to see Uniswap enter the Polkadot ecosystem. Polkadot is a strong fit for Uniswap, whose users can discover everything the network's parachains offer, such as high performance, scalability, security, and interoperability. Polkadot’s DeFi ecosystem now benefits from a marquee name in the space that caters to both beginners and sophisticated crypto users. Uniswap’s presence increases the levels of volume and liquidity on Moonbeam and across the Polkadot ecosystem.”
Uniswap V3 enters the Polkadot ecosystem by way of Moonbeam, a top layer-1 parachain which provides full EVM compatibility, native interoperability, and prioritizes secure cross-chain integration solutions. Over the last year Moonbeam has seen impressive user growth and the launch of major multi-chain and native DeFi offerings such as Curve, Moonwell, and most recently, Prime Protocol. Numerous Moonbeam-native DEXs and lending and borrowing protocols round out their offerings, making Moonbeam and Polkadot a well-rounded home for DeFi enthusiasts.
About Moonbeam
Moonbeam is a smart contract platform for building cross-chain connected applications that can access users, assets, and services on any chain. By uniting functionality from Ethereum, Cosmos, Polkadot and more into a single platform, Moonbeam solves today’s fragmented user experience — unlocking true interoperability and paving the way for the next generation of applications. The Moonbeam platform uses integrated cross-chain messaging to allow developers to create smart contracts that access services across many remote blockchains. This approach, plus Moonbeam’s developer-friendly EVM platform, vast tool support, and modern Substrate architecture, creates the ideal development environment for building connected applications
About Polkadot
Polkadot provides the technical advances necessary to make blockchain technology practical, accessible, scalable, interoperable, and future-proof, removing limitations and barriers to entry, and thereby fueling innovation, growing the decentralized technology space, and bringing the Web3 vision to life. It connects private and consortium chains, public and permissionless networks, oracles, and future technologies that are yet to be created.
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