Uniswap is coming to the Boba Network. A proposal submitted by the Boba Foundation and FranklinDAO to deploy Uniswap v3 on Boba Network passed with over 51 million votes.
Members of the Uniswap community voted in favor of deploying Uniswap v3 on Boba Network’s layer-2 protocol on Ethereum.by Boba Foundation and FranklinDAO to deploy Uniswap v3 on Boba Network passed. This means that the Boba Network will be the sixth chain to deploy Uniswap v3, with the deployment scheduled to proceed in the coming weeks. The move was backed by several entities, such as GFX Labs, Blockchain at Michigan, Gauntlet and ConsenSys.
According to Alan Chiu, co-founder and CEO of Enya Labs — a core contributor to Boba Network — the move will enable developers within the ecosystem to create a new generation of on- and off-chain decentralized finance applications on top of Uniswap. Chiu explained: “While the Uniswap protocol will remain permissionless, developers will be able to build a compliant layer atop of it that leverages Hybrid Compute to tap existing, TradFi-friendly KYC/AML services.”
As a result, Chiu noted that the decentralized exchange will be more accessible to the broader institutional market. In addition, the Boba Network team also believes that this opens an opportunity for Uniswap to expand into the key Asian markets, highlighting that Boba Network gained a lot of traction in South Korea and is slowly expanding to Japan.
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