Uniswap community proposes integrating Coinbase’s Base L2 solution

Participants in the Uniswap DEX community proposed deploying the protocol’s third version on Layer-2 network of Coinbase.

Users she256, Michigan Blockchain and GFX Labs, who brought the issue to discussion, are members of decentralised autonomous organisation.

If approved, GFX Labs will handle the technical aspects.

As the primary developer, Uniswap will collaborate with OP Labs—the team behind the Optimism network.

In February, Coinbase launched the Base testnet on the architecture OP Stack. Representatives of the company emphasised that the platform’s creation does not entail a new token.

According to the community, deploying on a Layer-2 network would help increase the total value locked in the protocol, improve scalability and expand developers’ capabilities.

The proposal will be considered for seven days, after which a “temperature check” will begin among community members. Once Base goes live on the mainnet, official voting will commence.

Currently, the third version of Uniswap is available on several protocols, including Ethereum, Celo, BNB Chain and Arbitrum. The DEX community has also approved deployment on Polygon zkEVM.

According to a recent survey by Uniswap Labs, half of CeFi users are motivated to experiment with DeFi protocols in the next 12 months. However, the main obstacles for them are the complexity of use, a misunderstanding of the technology itself, and high fees.

In April, the number of active users on Uniswap 84,796 for the first time since May 2021. The growth in the protocol’s metrics is likely linked to a new wave of meme-token popularity.