Moonbeam, a leading platform for multi-chain applications on Polkadot, has recently announced the integration of Uniswap on its network. This marks a significant milestone as it’s the first instance of Uniswap, a prominent decentralized exchange boasting over $3 billion in TVL (total value locked), being made available to the Polkadot user base.
- Moonbeam’s Role: Moonbeam has emerged as the primary platform for multi-chain applications on Polkadot. Its recent announcement reveals that Uniswap is now operational on its network, a first of its kind integration for the decentralized exchange.
- Uniswap’s Expansion: With a staggering $3 billion in TVL, Uniswap’s presence on Polkadot is facilitated through Moonbeam’s smart contracts, an intuitive Oku front-end, and Wormhole messages. This integration allows users to harness the capabilities of Uniswap v3 contracts via the newly introduced Oku interface. This interface complements other significant protocols such as Optimism, Polygon, and Arbitrum.
- Timely Deployment: The integration comes just in time for a substantial DOT unlock slated for later this month. Approximately 100 million DOT, initially contributed to the first five crowdloans in December 2021, will soon be transferable. This event is anticipated to drive users to explore alternative utilities for the token across Polkadot and its associated parachains.
- Community and Security: The integration of Uniswap with Moonbeam received support from the Michigan Blockchain and was greenlit by the Uniswap community in May. For cross-chain protocol selection, the Uniswap DAO opted for Wormhole, which was also the top pick in the Uniswap Bridge Assessment Committee’s security analysis.
- Moonbeam’s Position in Multi-chain Expansion: Moonbeam’s integration underscores its pivotal role in multi-chain expansion. The platform stands alongside Ethereum, Polygon, Avalanche, and BNB Chain, all of which have Uniswap v3 deployments. Moonbeam’s rapid finality and its unique approach to connected contracts make it a preferred choice for cross-chain integration applications.
- Liquidity and Trading on Moonbeam: Moonbeam’s community recently sanctioned a grant for Gamma, aiming to introduce concentrated liquidity to its three primary DEXes: Uniswap, Stellaswap, and Beamswap. This move is designed to grant individual users more control over their funds. Additionally, Oku, developed by the GFX Labs team with a $1.6 million grant from the Uniswap Foundation, offers an advanced Uniswap v3 trading interface for Moonbeam users. This interface is tailored to mirror the user experience of centralized exchanges like Binance and encompasses features such as order books, price charts, live trading history, and more.
- Uniswap’s Enhanced Features: The latest version of Uniswap introduces a variety of fee options, offering more flexibility and efficiency for liquidity providers. This update aids in low-slippage trades, ensuring better pricing. Additionally, liquidity providers can now set specific price ranges, and the oracles in v3 have been optimized for cost-effectiveness and ease of use.
About Moonbeam: Moonbeam is a revolutionary smart contract platform designed for building cross-chain connected applications. By amalgamating functionalities from Ethereum, Cosmos, Polkadot, and more, Moonbeam addresses the current fragmented user experience, paving the path for the next generation of applications. The platform employs integrated cross-chain messaging, enabling developers to craft smart contracts that can access services across a multitude of remote blockchains.
Source: Moonbeam Network.
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