Uniswap to Launch on Polkadot Moonbeam Parachain

Uniswap, the leading decentralized exchange (DEX), is set to launch on the Moonbeam network, a Polkadot parachain, following the approval of a proposal on the exchange’s governance forum. The proposal, put forward by Blockchain at Michigan, received overwhelming support, with only one UNI token casting a dissenting vote. The smart contracts for the exchange have already been deployed to Moonbeam, and final preparations involve front-end integration updates and adding Moonbeam to the auto router.

While initial liquidity on the exchange may be limited due to market conditions, Blockchain at Michigan is considering applying for a Moonbeam grant to provide liquidity promptly. If approved, the grant would be held by Uniswap’s decentralized autonomous organization (DAO). According to Omar Elassar, a business development executive at Polkadot developer Parity Technologies, the switch to Moonbeam will improve performance and security for Uniswap users. Polkadot is a network of interconnected blockchain networks called parachains, that share security through the Polkadot relay chain. The Moonbeam parachain specifically aims to provide a developer-friendly environment similar to Ethereum, enabling seamless migration of Ethereum applications to the Polkadot ecosystem.

Uniswap, known for its high trading volume of over $480 million per day, is expanding beyond the Ethereum network. It recently launched a version for the Binance Smart Chain and deployed it to Polygon zkEVm. Additionally, Uniswap introduced an iOS mobile app to facilitate user onboarding. With the integration of Moonbeam, Uniswap aims to leverage the benefits of Polkadot, such as scalability, interoperability, and enhanced performance, offering users access to the wider range of opportunities presented by parachains.