Uniswap Community voting on Moonbeam and Gnosis Chain Deployment

Uniswap may broaden its horizons if a new governance proposal is any indication.

Voting has begun within the Uniswap community on a governance proposal to deploy the popular decentralized exchange on Moonbeam, a Polkadot parachain powering DeFi applications. The voting went live on May 12 and, according to Uniswap Labs’ official Twitter feed, ends May 19.

Voting has begun on a similar proposal to launch Uniswap for Gnosis Chain. The vote is set to close May 20.

Uniswap has been one of the most popular apps on Ethereum. It has also expanded its reach to include Polygon and Arbitrum. However, it has not made any outside the Ethereum ecosystem. If the proposal is approved, it would be a major step in broadening Uniswap’s potential market.

According to the first proposal Moonbeam’s successful launch would give access to the wider Polkadot user market. This market has remained largely secretive from Uniswap. Moonbeam, it notes, is the “de facto DeFi hub for Polkadot,” and the stated aim of the proposal is to become its primary liquidity hub and automated market maker. Gnosis chain, meanwhile, has been targeted as “a DeFi ecosystem primed for growth.” In both cases, the proposals intend to solidify Uniswap as the premier player in the multichain DeFi space.

Moonbeam supports EVM compatibility which makes it an easy entry point for Ethereum developers who want to move to Polkadot. This is in keeping with the proposal’s stated ambition of making Uniswap into the leading multichain exchange on the market:

“Moonbeam is a Polkadot parachain that features EVM compatibility, allowing it to serve as a port-of-entry for Ethereum-native apps to participate in the greater Polkadot ecosystem. Deploying on Moonbeam will expand the Uniswap community to include users of the Polkadot ecosystem, helping Uniswap on its journey to becoming a leading product in the multichain world.”

Despite Polkadot’s somewhat languid performance in the market, the proposal expresses a certain faith in the project, citing its consistently high developer activity and a community that has grown in tandem with Ethereum’s.

According to the proposal, deployment would occur approximately three to four week after the vote if it is successful.

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