Uniswap Will Get Deployed On Polygon After Community Vote

Uniswap will get deployed on Polygon as the community voted so now the smart contracts will be deployed on Polygon and its Proof-of-Stake Chain.
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The announcement was made via Twitter by the official handle of Uniswap Labs just as the community vote was completed so now let’s read something more about it in today’s altcoin news.

The AMM will be rollout on Polygon and on its third iteration so the motion was passed with 72 million votes in favor and 503,009 against that only shows the proposal was widely accepted by the UNI holders. Presented by Mihailo Bjelic as one of the co-founders of Polygon, he claimed that it’s the right moment to continue the community-driven initaitive. Bjelic claimed that Polygon was one of the strongest DeFi Ecosystems with an implementation that could boost Uniswap’s user base and promised the users they will boost adoption and will achieve the goals. As a scaling solution for Ethereum, Polygon can provide the users with a battle-tested implementation of the popular AMM and Uniswap ruled supreme until the high transaction fees price-outa a huge number of users on the protocol.

🗳 The Uniswap community has voted to deploy v3 on @0xPolygon through the governance process.

⚡️ Uniswap Labs will deploy Uniswap v3 contracts within a few days.

👀 Stay tuned. pic.twitter.com/LwVLwEngPl

— Uniswap Labs 🦄 (@Uniswap) December 18, 2021

As Bjelic pointed out, other Ethereum protocols chose Polygon as their preferred scaling solution, and as the co-founder mentioned Curve, Aave, SushiSwap, and Balancer all while adding the advantage of Polygon to the ecosystem. Besides the number of deployed projects, more strength of Polygon’s Defi ecosystem comes from the fact that it is self-sustainable. The co-founder noted:

“We effectively stopped all liquidity mining incentives some time ago, and yet we keep seeing capital and user inflow 25 and very high user retention 14.”

More data provided by Bjelic claimed that the protocols deployed on Polygon experienced an increase in the user base so, after implementation on the network, Aave reached 700,000 active users which is a 10x increase compared to the same metric on Ethereum. Most users expect the implementation on Polygon to drop the cost of usage for Uniswap. The co-founder of the scaling solution claimed that Aave got a 16x increase in the users’ activity. Bjelic argued that the integration between Polygon’s PoS and Uniswap will represent a comeback for the original Defi vision and the sector was created to provide the people with open and inclusive financial solutions:

“DeFi is envisioned as an open, inclusive financial system, so deploying to Polygon (and other scaling solutions) can be considered as returning to this original vision.”

Polygon will explore the chance to commit around $20 million from the treasury and create liquidity incentives and Bjelic also claimed that they are willing to resume for Uniswap because of its importance as one flagship Defi protocol so let’s see first what it means now that Uniswap will get deployed on Polygon.