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Home BREAKING NEWS

Boosting Liquidity: Uniswap to Launch on Avalanche

by BlockNews Team
September 28, 2023
in BREAKING NEWS, DEFI, FINANCE
Reading Time: 2 mins read
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  • Unsiwap is set to deploy on Avalanche, bringing massive liquidity enhancements to the C-Chain ecosystem.
  • LayerZero, a cross-messaging interoperability protocol, will help facilitate the deployment.

Uniswap, the largest DEX by trade volume, has deployed on the Avalanche C-Chain. This expansion solidifies Avalanche’s position as an attractive destination for DeFi projects.

Uniswap, the largest DEX by volume, is now live on #Avalanche

Welcome @Uniswap 🦄 pic.twitter.com/uT7gzXIvwJ

— Avalanche 🔺 (@avax) July 12, 2023
Via @avax – X

The decision to deploy Uniswap on Avalanche resulted from a successful governance proposal by Michigan Blockchain, the University of Michigan’s blockchain club—the proposal aimed to foster a robust and multi-chain future while capitalizing on Avalanche’s flourishing ecosystem. The on-chain vote garnered widespread support, with an overwhelming 95% majority in favor of the integration.

The LayerZero interoperability protocol will play a crucial role in the Uniswap deployment. The protocol enables seamless messaging between the host chain, Ethereum, and Avalanche, making asset transfers and governance proposals cross-chain affairs.

Why Uniswap?

Uniswap, which debuted on Ethereum in 2018, has since pioneered the Automated Market Maker (AMM) model. The platform allows traders and liquidity providers to engage indirectly through liquidity pools, leading to over 139 million trades and a staggering $1.5 trillion in trading volume. Uniswap’s latest version, V3, introduces concentrated liquidity, allowing liquidity providers to allocate assets within specific price ranges.

The deployment of Uniswap on Avalanche opens up new possibilities for efficient liquidity pools, potentially generating more trading fees for liquidity providers operating within active price ranges. The successful deployment allows tens of thousands of users from other ecosystems that utilize Uniswap to explore Avalanche’s fast time-to-finality and low transaction fees, contributing to a thriving and interconnected DeFi landscape.

Tags: AvalancheAVAXDEXUniswap
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