BTC PULSE
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
Play Now
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

Uniswap is coming to ZKSync; What it Means

by Abimbola Adu
Oct 14, 2022 - 12:00 am
in Blockchain
Uniswap is coming to ZKSync; What it Means

A DeFi researcher named DefiIgnas tweeted on October 13 that the newest version of Uniswap, V3, is launching on zkSync (an Ethereum Layer-2 utilizing zk-rollups as scaling solutions). However, because it needs time for testing and marketing, it would take developers roughly 4-6 weeks to install the new version.

1/ Uniswap V3 is launching on zkSync.

Governance vote just passed the necessary 40M votes 'For' with the deployment expected in 4-6 weeks.

Why is it a big deal? ๐Ÿงต

— Ignas | DeFi Research (@DefiIgnas) October 13, 2022

The new version makes on-chain trading significantly more capital-efficient. It is accomplished by permitting “concentrated liquidity,” which gives liquidity providers the freedom to decide where their tokens should be used in the market.

Governance voting was effectively used to determine whether or not the deployment should take place. Over 41 million people have agreed on Snapshot, which is a million more than necessary. It is important to know that the developers of zkSync, Matterlabs, will deploy the most recent upgrade rather than the Uniswap team.

Matterlabs has seized the opportunity to utilize the benefits of the upcoming zkEVM, which will go live on the mainnet in 16 days. By deploying on zkSync, users can perform activities at lower expenses compared to Ethereum without compromising security. It assists users and enhances their engagement on the DEX. Additionally, the developers believe that this early deployment will solidify Uniswap‘s standing as the top DEX.

DefiIgnas further stated that DApps numbering up to 100, including Curve, Argent, and Yearn, are already building on zkSync. This action supports Uniswap’s cross-chain expansion and facilitates future protocol development. 

In recent months, many Zk rollups have gained traction, and they are all vying to be the best. In connection with this, DefiIgnas pointed out the Uniswap V3 launch on zkSync as a well-timed strategic decision. Users of Uniswap and zkSync will benefit from the scaling solutions, low gas costs, and potential for huge transactions thanks to EVM compatibility in the rollup environment.

Tags: UniswapZkSync
Abimbola Adu

Abimbola Adu

Abimbola Adu is a crypto content writer with a background in English studies. She is keen on enlightening others about cryptocurrency and blockchains. She enjoys writing poems and spending time with family.

Related Posts

Shanghai cityscape with overlaying blockchain icons representing its commitment to technological growth.

Shanghai Unveils Blueprint to Boost Blockchain Progress by 2025

September 27, 2023

Shanghai announces a comprehensive strategy targeting rapid blockchain evolution by 2025, aligning with China's support for domestic blockchain...

A graph showcasing the decline in Binance's market share in 2023.

Binance’s Non-Dollar Exchange Market Share Dips by 25%

September 27, 2023

Binance's dominance in non-dollar crypto exchanges takes a hit, dropping 25% since January 2023, facing challenges from competitors...

Aerial view of Tecpetrol's new crypto mining setup, surrounded by the vast landscapes of Argentine Patagonia.

Argentinian Oil Giant Tecpetrol Turns to Crypto Mining Using Excess Gas

September 27, 2023

Tecpetrol ventures into cryptocurrency mining by converting excess gas into energy, setting an example in both sustainability and...

Binance CEO CZ engaged in a discussion regarding the recent HTX hack.

CZ Appoints Binance Security Team to Track Huobi HTX Stolen Funds

September 26, 2023

Binance's CZ extends a helping hand to Huobi HTX after a hack drained $8 million from the exchange....

Press Releases

David Ferrucci next to the Elemental Cognition brand emblem.

BM Watson’s Lead Developer Secures $60M for New AI Venture, Elemental Cognition

August 18, 2023

David Ferrucci, has raised a remarkable $60M for his AI startup. The company brings forward two pioneering chatbot solutions designed...

pulse5

Amsterdam Gets with the Dutch Blockchain Days the Biggest Event of the Benelux in the Field of Blockchain, Crypto Currencies, NFTs and Other Web3 Developments

May 8, 2023

Discover the future of blockchain, crypto, NFTs, and Web3 at Dutch Blockchain Days, the largest event in Benelux.

pulse4

Korea Blockchain Week 2023 Set to Push the Boundaries after Record-Breaking 2022 Event

May 8, 2023

Korea Blockchain Week 2023 returns after a highly successful 2022 event, featuring leading experts and the latest trends in blockchain...

pulse3

Istanbul Will Be Hosting Eurasiaโ€™s Largest Blockchain Event Once again on May 8โ€“11, 2023

May 8, 2023

Join Eurasia's largest blockchain event, the Blockchain Economy Istanbul Summit, May 8-11, 2023, and discover the future of financial technology.

View All
BTC-Pulse LogoTransparent

ยฉ 2023 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

ยฉ2023 BTC-PULSE – All right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise