Blockchain
The proposal aims to install Uniswap on the Fantom chain using the Axelar cross-chain interoperability protocol, a strategic move that will take advantage of existing market opportunities and strengthen Uniswap’s position in the DeFi domain.
Fantom Chain is a smart contract platform that is extremely scalable and secure, enabling dApps to be deployed quickly. Fantom offers fast, secure and cheap transactions due to its unique Directed Acyclic Graph structure and powerful consensus process.
Fantom is EVM compatible, allowing developers to easily port and deploy their current Ethereum dApps to the Fantom Chain. Because of this compatibility, as well as Fantom’s lower transaction fees and faster confirmation times, several Ethereum-based projects have chosen to grow and improve their operations on Fantom.
The Fantom team is also committed to developing partnerships with Ethereum through the Axelar network to facilitate the transfer of assets between the two ecosystems. Fantom plays a vital role in promoting the wider use and advancement of blockchain technology by creating an environment that supports and enhances the Ethereum ecosystem. According to the proposal, deploying V3 on Fantom Chain offers several benefits to both Uniswap Laboratories and its users.
The current support rate is 100% and voting ends on May 31.
Upon completion of the chain vote, Axelar will be responsible for deploying the Uniswap V3 smart contract on Fantom, while Uniswap Labs will be responsible for the front-end integration. The evaluation process is expected to take 4-6 weeks.
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