Bobos & Wojaks

Get rich or die tryin

Uniswap Confirms Gnosis and Moonbeam Upgrade

Uniswap, a DeFi platform, has announced that it would launch on two new blockchains Gnosis Chain and Moonbeam Network. Governance token holders voted virtually unanimously last week to launch Uniswap on Gnosis and Moonbeam.

uniswaplabs-crypto-blockchain

Both votes were passed with nearly equal results. 99.99 percent of votes were in favor of launching on each chain: Moonbeam received 50.7 million UNI and Gnosis received 46.1 million UNI. Each launch received only 0.01 percent (3,080 UNI) of the vote.

The vote included Ethereum development firm ConsenSys, Crypto.com head of Partnerships Kenneth Ng, and university blockchain initiatives such as Blockchain at Michigan and Blockchain at Columbia.

Following two earlier votes, a temperature check and a consensus check the final votes took place on May 19 and 20. In the coming weeks, the actual launching will take place. Uniswap will be able to reach additional parts of the DeFi ecosystem thanks to its decision to launch on each blockchain.

Gnosis Chain is meant to do rapid, low-cost transactions and is compatible with Ethereum’s EVM. Gnosis will provide $10 million to Uniswap’s liquidity mining program.

Meanwhile, Moonbeam Network is a blockchain that tries to combine Polkadot with Ethereum. Nomad.xyz and Blockchain at Berkeley submitted the Moonbeam launch proposal. The Uniswap Grants program will get $2.5 million from Nomad.

Uniswap supports four more chains in addition to the two new ones: Ethereum, Polygon, Optimism, and Arbitrum.

Though the majority of its activity occurs on the Ethereum blockchain, Uniswap’s overall worth makes it a useful addition to any blockchain that may support it.

Uniswap presently has $7.05 billion in total value locked, making it the third-largest DeFi platform, according to DeFi Pulse.