Uniswap users back Arbitrum deployment of DEX on Layer 2

Uniswap community members backed the launch of the third version of the decentralised exchange on Ethereum Layer-2 network Arbitrum.

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The @Uniswap community has spoken with overwhelming support in favor of an Arbitrum deployment of Uniswap v3! So far:

Yes:
41.35m UNI

No:
0 UNI https://t.co/esdxa2HIIC

— Hayden Adams 🦄 (@haydenzadams) May 26, 2021

None of the holders of native tokens objected to the proposal; holders of 41.35 million UNI voted in favour.

«We will support the community by launching smart contracts v3 on Arbitrum. Work on supporting the interface and deployment has already begun», — wrote Uniswap founder Hayden Adams.

He emphasised that Layer-2 solutions would bring ‘incredible advantages’ for users due to faster transaction finality and lower processing fees.

Adams urged not to expect quick results, as the technology remains experimental. It still requires extensive testing before it can support economic activity at the scale of the protocol’s first version on Ethereum, he added.

The founder of Uniswap noted that the team has not abandoned a deployment on the Layer-2 Optimism network in the near future. The release had been expected to launch in May, but it was postponed.

On May 28, Arbitrum creators will open the mainnet to developers.

Arbitrum mainnet opens to developers May 28. Join the initial cohort! https://t.co/mL8CcMYE61

— Arbitrum (@arbitrum) May 12, 2021

In 2019, Arbitrum raised $3.7 million to explore the possibility of scaling smart contracts.

In May, the Uniswap team launched the third version of the protocol, with support for the Layer-2 Optimism solution.

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