Temperature Check: Deploying Uniswap V3 on Fantom

Summary:

• A proposal to launch Uniswap’s third-generation DEX, or V3, on the Fantom blockchain is currently undergoing a “temperature check” governance vote.
• The proposal highlights a market opportunity that could attract $30-40 million in weekly transaction volume while providing users with a scalable network with low transaction fees
• After expanding into BNB Chain, TVL’s second-largest DeFi ecosystem, Fantom appears to be the next in line for the leading decentralized exchange’s EVM chain to focus on.

Uniswap DAO is currently under consideration emission

Fantom is the third iteration of its decentralized exchange protocol, Fantom is a layer 1 blockchain with a Proof of Stake (PoS) consensus model and Ethereum Virtual Machine compatibility (EVM).

Uniswap’s Business Source License (BSL), which expires on April 1, will allow other entities to take advantage of the V3 design. Blockchain@Columbia’s joint proposal with Fantom and Axelar states that this opportunity could lead to a “potentially insecure fork” of the startup’s DEX model.

With the expiration of Uniswap v3 BSL, other DEXs including Beethoven X are also eyeing the market share on the Fantom chain. To stay ahead of the competition, Uniswap must quickly and efficiently build its presence on Fantom.

Fantom’s low fees and developer-friendly architecture also provide Uniswap users with broader access to a larger liquidity pool and basket of DeFi markets. Fantom users will also be able to access DeFi’s leading blue-chip trading venue and one of crypto’s most popular protocols.

Axelar, a cross-chain bridging platform connecting multiple blockchain networks, will act as a bridging infrastructure provider.

Uniswap Expansion Frenzy

Proposals to expand Uniswap beyond the Ethereum network have emerged in 2023, likely driven by the expiration of the BSL and a strategy to capture a larger market share as the leading DEX. 0XPlasma Labs plans to launch V3 on another EVM compatible network BNB Chain officially recognized

in January. Wormhole was selected as the bridge provider.

another suggestion Launch V3 on Polygon’s zero-knowledge EVM (zkEVM) Received strong support from the governance community.