Cryptocurrency News

Uniswap v3 looks ready for layer-two scaling on both arbitrage and optimism

The Uniswap community has voted in favor of launching the v3 iteration of the leading decentralized exchange on Arbitrum, a layer-two scaling solution.

Hayden Adams, the creator of Uniswap, announced the vote on May 27, revealing that the proposal’s governance vote received 41.35 million votes in favor and zero anti-votes from UNI token holders.

He said that work was already underway to plan the deployment and to design its interface.

Arbitrage Raised $ 3.7 million in 2019 To find out the smart contract scalability, and Launched first rollup system for Ethereum in early 2020. Arbitrum The claims To achieve a 55-fold reduction in gas costs for its Uniswap v2’s testnet port in November 2020, Ethereum supports 390 swaps per second compared to jusseven on the mainnet.

Adams said the Uniswap team remains “incredibly excited” for the launch of rival layer-two scaling solutions, Optimism. Adams said that Uniswap is still targeting deployments on optimism for the “near future”.

Optimism, which Raised $ 25 million in February funding round Under the leadership of the A16z, it was announced in March that its launch would be delayed, presenting July as a “rough estimate” for the mainnet launch.

The delay of optimism provided opportunities for other second-tier scaling solutions to secure market share, following which Polygon took an early lead. Ivey quickly attracted a 10-figure TVL On the network.

With the project currently underway, Arbitrum has emerged as a major layer-two contender. Targeted to May 28 for its mainnet launch. Developers will initially have exclusive access to Arbitrum after launch, allowing time for the initial group of networks to set up and test the infrastructure.

In early May, the OKEx became the first major centralized exchange to enable deposit and withdrawal functionality with the protocol. Arbitrum has also garnered notable partnerships with The Graf, Bancor and Bionomy.

In March, co-founder of Ethereum Vitalik Butirin praised Arbitrum For its progress on the Ethereum virtual machine-compatible rollup.

Since its launch earlier this month, Uniswap v3 has lived up to its promise of providing better capital efficiency than its previous incarnations. v3 surpasses v2 by daily volume Despite currently representing 26% of the total value of locked v2.