Blockchain
Under the proposal, GFX Labs will be responsible for the technical implementation of contracts on the target chain and the bridge across the chain will be provided by Wormhole. Approval of the proposal by the Uniswap board will result in the Uniswap V3 contract being considered a canonical implementation on Moonbeam.
The Uniswap DAO voted on this issue last spring. The proposal progressed through Uni’s governing rails, garnering strong community backlash, passing moderate scrutiny, and finally passing with a near-unanimous YES vote during the on-chain vote. Nomad was the selected contract implementer and cross-chain messaging solution for that proposal.
Despite getting the license release in May 2022, Nomad never started deploying Uniswap V3 contracts on Moonbeam. From Uniswap’s perspective, this is fortunate, as the August 1, 2022 delay allowed Uniswap to escape the Nomad Bridge exploit vulnerability.
This updated proposal includes architectural and activity improvements for both Polkadot and Moonbeam. The Moonbeam Foundation’s prior $2.5 million commitment to the Uniswap Grants Program (UGP) has been ruled out due to adverse market conditions, although liquidity incentives are available through the Moonbeam Foundation’s Level 3 grant process. This could qualify for the aforementioned award in the coming months, allowing Moonbeam to boot more frictionless liquidity.
The current support rate for this proposal is 99.99%. The proposal expires on May 17. If this vote passes, as with all canonical v3 implementations, this implementation is governed and controlled by the protocol.
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