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The decentralized exchange (DEX) Uniswap appears poised to initiate its launch on the new zero-knowledge Ethereum Virtual Machine (zkEVM) roll-up solution provided by scaling solution provider Polygon.
Uniswap (UNI) token holders have until April 14 at 9:05 pm UTC to cast their votes on the proposal for launching Uniswap v3 on the zkEVM. The necessary threshold of 40 million votes for the proposal to succeed has already been surpassed, with over 42.4 million votes documented in favor of the integration.
All 191 Ethereum addresses supported the proposal, with financial modeling platform Gauntlet and Ethereum infrastructure provider ConsenSys leading the voting count, each contributing over 7 million votes, as reported by Tally, a voting dashboard for decentralized finance initiatives:
Top votes in favor of integrating Uniswap v3 on Polygon zkEVM. Source: Tally
Jack Melnick, the proposal’s author and Polygon Business Development Lead, stated that now is the “right moment” to enable Uniswap v3 on Polygon’s zkEVM due to its “EVM equivalent” nature, which eliminates the need to recompile EVM smart contracts:
“There’s significant value in Uniswap being available on an EVM compatible ZK rollup. Deploying early on zkEVM helps solidify Uniswap’s place as the number one DEX and a thought leader.”
Melnick noted that the integration will also ensure validation and rapid finality of off-chain transactions.
Furthermore, he explained that the substantial level of adoption Polygon has achieved makes the integration on Polygon’s zkEVM a “priority.”
Regarding the factors that could determine whether this deployment succeeds or fails, Melnick highlighted several crucial on-chain metrics:
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“A successful zkEVM deployment will, in an organic and sustained manner, grow Uniswap’s Total Addressable Market across TVL, unique interacting wallets, volumes, and integration with partner dApps.”
“As demand for zk-blockchains and proximity to Ethereum increases, users and builders will increasingly seek zkEVM solutions for building and trading,” he added.
Melnick expressed confidence that the integration will present “minimal risks” at least “relative” to other blockchains, as the Polygon zkEVM employs zero-knowledge proofs to leverage Ethereum’s security.
He also mentioned that the Polygon Bridge has been “disintermediated” and that data will be obtained from “reputable” Oracle providers, which he anticipates will further enhance security at the protocol level.
Polygon’s zkEVM officially launched its mainnet on March 27.
Related: Uniswap’s first governance vote fails… Despite 98% support
In a similar development, Uniswap v3 integrated with the BNB Chain — a smart contract blockchain developed by Binance — on March 15.
The governance vote for this integration was less decisive, as only 65% supported the proposal.
The United States venture capital firm Andreessen Horowitz (a16z), the largest holder of UNI tokens, opposed the BNB proposal with its 15 million UNI tokens.
Magazine: ZK-rollups are ‘the endgame’ for scaling blockchains, Polygon Miden founder
