Uniswap DAO Approves Boba Network Embedding in Latest Community Vote

Following a successful beta test, Version 3 (v3) will be soon deployed on Boba Network. Favorable vote for the community.

Boba Network, a separate blockchain, is used to facilitate faster and cheaper user transactions. Decentralized exchanges (DEXs), such as Uniswap, rely on smart contract technology to provide financial services like lending and borrowing.

The Uniswap community voted in support of the move with overwhelming majority. FranklinDAO, ConsenSys, an Ethereum development and investment laboratory, backed the proposal.

CoinDesk – Unknown

The proposal stated that the Boba Foundation was granted an additional grant to enable them to use the Uniswap V3 Core code. “The Boba Foundation is granted a license to use Uniswap Code in order to fully deploy Uniswap Protocol v3 onto Boba Network L2 on Ethereum blockchain.”

Uniswap’s deployment on Boba Network gives it the opportunity to grow its community to include users in Boba’s multichain ecosystem. This will significantly increase its total value and transaction volume. Boba Network was launched Tuesday. Holds more than $4.5 Million In locked value

CoinDesk was informed by the Boba Foundation that they had pledged to 1 million BOBA tokens in order to encourage the adoption of Uniswap v3 via the Boba Network.

These tokens will go to a multisig wallet that is co-owned by Uniswap Grants Program, the Boba Foundation and the Boba Foundation. The funds will be distributed to promising Boba-based project to increase adoption of UniswapV3 on the Boba Network.

The move will also attract more traders from Asia, where Boba claims to be a strong presence.

“Uniswap’s deployment on Boba Network gives it the opportunity to bolster their presence in key Asian markets where Boba has already enjoyed strong adoption,” Boba developers explained to CoinDesk.

By David Warsh

David Warsh is a leading expert in the field of cryptocurrency and blockchain technology. With over a decade of experience in the industry, he has a deep understanding of the intricacies of digital currencies and the potential they hold for revolutionizing various industries.