The Uniswap proposal to launch on Polygon’s zkEVM (zero-knowledge Ethereum Virtual Machine) is all but certain, as all 191 UNI token holders cast their votes in favor of the integration. The decentralized exchange (DEX) is on track to revolutionize its platform through this strategic move, with a total of over 42.4 million votes recorded supporting the launch.
Uniswap v3 Poised to Benefit from zkEVM Integration
The 40 million vote threshold required for the proposal to pass had already been surpassed well in advance.
Among the voters, financial modeling platform Gauntlet and Ethereum infrastructure provider ConsenSys led the charge with more than 7 million votes each, according to Tally, a voting dashboard for decentralized finance projects.
Jack Melnick, Polygon Business Development Lead and author of the proposal believes that now is the “right moment” to make Uniswap v3 available on Polygon’s zkEVM.
He cites the platform’s EVM compatibility as a significant advantage, which eliminates the need to recompile EVM smart contracts. Melnick states, “There’s significant value in Uniswap being available on an EVM-compatible ZK rollup. In addition, deploying early on zkEVM helps solidify Uniswap’s place as the number one DEX and a thought leader.”
Advantages of Uniswap’s Integration with Polygon zkEVM
Melnick further highlights the benefits of integrating with Polygon’s zkEVM, including validation and fast finality for off-chain transactions. Moreover, the high level of adoption that Polygon has achieved makes integration a “priority.”
To gauge the success of this deployment, Melnick identifies several key on-chain metrics: “A successful zkEVM deployment will, in an organic and sustained manner, grow Uniswap’s Total Addressable Market across TVL, unique interacting wallet, volumes, and integration with partner dApps.”
He adds, “As demand for zk-blockchains and proximity to Ethereum rises, users and builders will increasingly look to zkEVM solutions to build and trade.”
Security and Risk Mitigation with Polygon zkEVM
Confident in the integration’s potential, Melnick asserts that the move poses “minimal risks” relative to other blockchains, as the Polygon zkEVM leverages zero-knowledge proofs to inherit Ethereum’s security.
Furthermore, the disintermediation of the Polygon Bridge and the sourcing of data from “reputable” oracle providers are expected to strengthen security at the protocol level.
Polygon’s zkEVM officially launched on the mainnet on March 27, marking a significant milestone for the platform.
Uniswap’s Previous Integration with BNB Chain
In a related development, Uniswap v3 integrated with the BNB Chain—a smart contract blockchain built by Binance—on March 15.
However, the governance vote for this integration was less decisive, with only 65% of voters supporting the proposal. Notably, United States venture capital firm Andreessen Horowitz (a16z), the largest UNI token holder, voted against the BNB proposal with its 15 million UNI tokens.
As Uniswap moves forward with its zkEVM integration, this strategic decision can solidify its position as a leader in the decentralized exchange space, offering users and developers even more compelling reasons to build and trade on its platform.
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