Nearly 100% of Uniswap’s community wants Arbitrum on the Ethereum DEX
Since the release of Uniswap in April of 2017, we have been working hard to create a new cryptocurrency that was developed with the needs of the community in mind. We have been working on an open source DEX cryptocurrency that is focused on our community members. This blog post is intended to inform the community on the results of a survey we sent out to every Uniswap’s community member. The survey asked the community members to register their opinions on the possibility of adding Arbitrum to the Uniswap’s blockchain.
Nearly 100% of the community wants Arbitrum on the Ethereum DEX.
After months of trying to get Uniswap’s token to be listed on an Ethereum DEX, it seems that the community has finally decided to move forward with this. This is great news for the project and will bring more liquidity to the network by adding more users, which is the aim of the project.. Read more about what is uniswap and let us know what you think.
According to a recent survey, nearly 100% of the Uniswap community is calling for support for Arbitrum, the next tier two solution, on Ethereum’s main decentralized exchange (DEX). Uniswap is a fully decentralized DEX that uses smart contracts to arrange peer-to-peer transactions between two users around the world. Users deposit their funds with any two ERC20 tokens into the journal and receive a portion of the transaction fee each time a transaction occurs on that pair. The UNI platform’s proprietary token allows users to propose improvements or changes on the Uniswap forums, where more token ownership means more voting rights and vice versa.
Everyone wants Arbitrum
According to data published on the site, more than 41 million UNIs (Uniswap native tokens) have voted FOR Arbitrum support in Uniswap v3. However, only 205 UNI members voted NO. This means that almost 100% of those who voted for UNI want Arbitrum to be on DEX. Image: Uniswap snapshot page. The survey was set up by Compound’s founder, Robert Leshner, and will take place over two days. I support the use of Uniswap v3 on Arbitrum and love the zeal of the community, he said in a tweet yesterday. I created an instant poll to gauge interest in using Uniswap v3 on Arbitrum. The vote will last for 2 days: https://t.co/jZQTiEsms4 – Leshner (@rleshner) May 26, 2021 Leshner’s poll refers to a suggestion from community member andy8052. With the absence of new and growing networks such as Arbitrum and Matic, other trade shows can simply fill the space. According to one of the paragraphs in the proposal, this could lead to lower commissions for executives in the future. At the same time, it will help increase the potential list of projects that can be built on Uniswap v3….. increase the number of projects that] can be built on Uniswap v3. and] accelerate the adoption of Uniswap across all channels as code and integrations are better tested, the company added.
Why is L2 needed in Uniswap?
The Ethereum network is currently the most widely used blockchain in the world, but it suffers from a long-standing problem: Exorbitant fees that make the platform unsuitable for small users (as well as low transaction speed). Earlier this month, users were paying up to $200 to make individual transactions on Uniswap – due to Ethereum network congestion – which drew criticism from several cryptocurrency communities. So, #Uniswap on the channel is worth about $200 right now….. WTF!!! @haydenzadams why don’t you implement polygon like Aave and Sushiswap did? – Lark Davis (@TheCryptoLark) 12. May 2021 But Arbitrum can help make a difference. The protocol makes smart contracts scalable, faster and more private, according to its GitHub page, and allows Ethereum developers to easily recompile their contracts to run on the protocol. Departure is scheduled for Friday the 28th. May, planned. It is a product from Offchain Labs that allows developers to scale their applications by processing transactions outside the Ethereum core network (layer 1) without compromising the decentralized security model. Arbitrum on Ethereum can make exchanges much more scalable and cheaper for users (GAS commissions are 270 times lower thanks to Arbitrum), and help make Uniswap much more convenient for everyone (not just whales). Uniswap creator Hayden Adams said the team would be happy to support Arbitrum if the proposal succeeds. If the snapshot is accepted, we plan to support the community by rolling out smart contracts v3 at Arbitrum, he said, adding: We have already started the interface support and deployment planning. 2/ If this goes wrong, we plan to support the community by implementing Smart Contracts v3 on Arbitrum! We have already started the interface support and deployment planning. – Hayden Adams (@haydenzadams) May 26, 2021 And given the voices of the community, Uniswapping will soon become cheaper for everyone.
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Uniswap, a platform for trading between tokens issued on different blockchains, has a community consensus to convert their native token (UIS) to the Ethereum-based token, Arbitrum (ARCT). This is an exciting step for the Uniswap community, as it will provide the ability to convert other tokens, such as the Uniswap token, to ARCT, as well as the ability to use ARCT to trade tokens issued on other blockchains.. Read more about will ethereum crash 2021 and let us know what you think.
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