Decentralized exchange (DEX) Uniswap is set to launch on the new zero-knowledge ethereum virtual machine (zkEVM) roll-up solution from scaling solution provider Polygon.
The integration is expected to increase Uniswap’s total addressable market across total value locked (TVL), unique interacting wallets, volumes, and integration with partner decentralized applications (dApps) as users and builders increasingly look to zkEVM solutions to build and trade.
Uniswap token holders had until April 14 to cast their votes on the proposal to launch Uniswap v3 on the zkEVM. The proposal achieved the necessary 40 million vote threshold with flying colors, garnering over 42.4 million votes in favor of the integration.
Securing Uniswap with Polygon’s zkEVM
The proposal’s author and Polygon Business Development Lead, Jack Melnick, extolled that getting in early on zkEVM will cement Uniswap’s position as a prime DEX.
The integration’s zero-knowledge proofs will endorse and hasten the validation of off-chain transactions, leveraging Ethereum’s security inheritance to slash risks tied to other blockchains.
Additionally, Polygon’s zkEVM leverages its “disintermediated” Polygon bridge and obtains data from trustworthy oracle providers, lending an extra layer of security at the protocol level.
Polygon’s zkEVM had its grand mainnet launch on March 27, and its high adoption rate has propelled integrating on its zkEVM to a top priority, according to Melnick.
Uniswap’s foray into BNB Chain integration
In a similar maneuver, Uniswap v3 integrated with the BNB Chain on March 15, but only 65% voted in favor of the proposal. Venture capital firm Andreessen Horowitz (a16z), the largest UNI token holder, cast its 15 million UNI tokens against the proposal.
At the time of writing, Polygon’s native currency, MATIC, has risen 4.5% in the last 24 hours and 7.7% in the last 14 days. However, MATIC was still down by 59.58% from its all-time high of $2.92 in December 2021.