Three influential contributors to Uniswap, the leading decentralized exchange, have started discussions to explore a possible implementation on Coinbase’s Layer 2 blockchain Base.
The proposed integration, brought to the Uniswap board forum today by she256, Michigan Blockchain and GFX Labs, would expand user access to Uniswap’s decentralized exchange through Base’s Layer 2 network, subject to the approval of an -chain governance vote.
The groups behind the proposal are part of Uniswap’s decentralized autonomous organization. GFX Labs, of the trio, will be responsible for the technical implementation of the contracts on Base, subject to approval of the proposal.
If the proposal goes through, it would be a boon for the fledgling Coinbase project. Aiming to provide developers with a more accessible, cost-effective platform for building on-chain decentralized apps, the exchange first rolled out a testnet version of Base in February ahead of an expected mainnet launch later this year. Uniswap v3 is one of the most widely used decentralized finance applications. In the past 24 hours, the decentralized exchange protocol that enables token swaps has processed about half a billion dollars in trade volume exclusively on the Ethereum mainnet.
Availability Uniswap V3
Currently, v3 is available on several EVM-compatible chains such as Ethereum, Celo, BNB Chain and additional Layer 2 networks such as Arbitrum. Now the contributors set their sights on Base as the next potential launch network.
Shortly after the launch of Base’s testnet, the Uniswap Foundation had suggested that the governance process to deploy version 3 of Uniswap on Base would begin, despite Base being in the testing phase. Uniswap founder Hayden James spoke are expectations of deploying the DEX to the network through the native canonical bridge managed by Base’s core developers.
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