Uniswap’s V3 contracts have found a new home on the Moonbeam Network, a leading destination for multi-chain applications on Polkadot. With over $3 billion in Total Value Locked (TVL), Uniswap is a giant in the decentralized exchange (DEX) sphere. This integration, a first of its kind, extends Uniswap’s availability to users on the Polkadot network, opening up new avenues through an Oku front-end and Wormhole cross-chain messages.
Moonbeam: A Bridge to Polkadot
The Moonbeam network has positioned itself as a vital cog in the Polkadot ecosystem, especially ahead of a significant unlock of nearly 100 million DOT tokens later this October. This unlock event stems from the initial crowdloans conducted in December 2021. As these tokens become transferable, users are likely to explore alternative channels to leverage their DOT tokens across Polkadot and its parachains. Moonbeam, by hosting Uniswap, presents one such avenue.
The integration journey began with a proposal from Michigan Blockchain which received a nod from the Uniswap community in May. Uniswap’s DAO selected Wormhole as the cross-chain protocol, paving the way for deployments on Moonbeam, Celo, BNB, and Gnosis. The Wormhole protocol stood out in the Uniswap Bridge Assessment Committee’s security analysis, marking a significant stride towards a secure cross-chain communication.
Expanding Multi-chain Horizons
Moonbeam’s role in Uniswap’s multi-chain strategy cannot be overstated. By supporting Uniswap v3 contracts, Moonbeam joins the ranks of Ethereum, Polygon, Avalanche, and BNB Chain, all of which have Uniswap v3 deployments. The fast finality and unique connected contracts approach of Moonbeam underline its appeal for cross-chain integration applications.
Oku: A New Interface for Uniswap Traders
A significant part of this integration is the Oku interface, designed to provide an advanced trading experience for Uniswap v3 on Moonbeam. Funded by a $1.6 million grant from the Uniswap Foundation, the GFX Labs team developed Oku to emulate a centralized trading experience akin to platforms like Binance. Oku introduces features like order books, price charts, live trading history, limit orders, and a seamless view of all available and new pools on Uniswap v3.
A Win for Liquidity Providers
Uniswap’s latest version introduces multiple fee options, enhancing flexibility and efficiency for liquidity providers. The upgrade aids in low-slippage trades, ultimately offering better prices. Additionally, liquidity providers can set specific price ranges, while the oracles in v3 are more accessible and cost-effective, marking a clear value addition for Moonbeam users.
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