The Uniswap group has authorized a management plan to distribute Uniswap v3 contracts via the Polygon PoS Chain. The permission came in the form of an on-chain vote in which over 72.6 million community members took part.
Uniswap Labs reported the deployment of Uniswap v3 contracts depending upon votes with a 99.3 percent approved consensus, which will be backed by a $20 million fund — $15 million for a long-term liquidity mining operation and $5 million for general Uniswap acceptance on Polygon (MATIC).
Furthermore, Bjelic stated that the time was ideal for Uniswap to launch Polygon, considering their position as “the second-largest DeFi ecosystem, just following Ethereum L1.” The entrepreneur has expressed his desire to financially and technologically promote [Uniswap] usage.
Polygon CEO Mihailo Bjelic authored the proposition on Nov. 20 and it was accessible for voting till Dec. 18, debating that “deploying to Polygon PoS can deliver a plethora of advantage” including “customer foundation expansion, significant savings for customers, greater user activity, increased earnings, market capture, and restoration to the original DeFi vision.”
Polygon has launched a $200 million project with Seven Seven Six, a venture capital firm founded by Reddit co-founder Alexis Ohanian, in order to retain a competing stance versus the Ethereum ecosystem.
According to Cointelegraph, the effort would fund and host gaming programs and social networking sites created on Polygon’s infrastructure. This year’s spectacular development was fuelled by the introduction of over 3,000 decentralized on-chain apps, as well as additional protocol debuts and cross-chain migrations.