- As highlighted in a recent announcement, the UniSwap has gone live on the MoonBeam network.
- The new development is poised to serve both the MoonBeam and the Uniswap community.
According to a recent announcement shared by the MoonBeam network, UniSwap is now live on MoonBeam. It can be accessed easily using Okutrade’s feature-rich frontend for decentralized trading!
Moonbeam is a leading destination for multi-chain applications on the Polkadot network. The new development holds significance to both the MoonBeam and Uniswap communities. Notably, it holds the position as a major decentralized exchange with more than $3 billion in TVL (total value locked), that is currently available on Polkadot.
https://x.com/polkadot/status/1711408119098511757?s=46&t=qzsvHvtDB3yjTaoaylh-2g
Using the Oku interface and other protocols like Optimism, Polygon, and Arbitrum, users can access Uniswap v3 contracts. It bears mentioning that a handful of DOT tokens are scheduled to be unlocked later this month, as such, the new deployment comes in handy for the Polygon network.
As the announcement reads;
“This deployment is particularly timely ahead of a massive DOT unlock later this October, when the nearly 100 million DOT that was contributed to the first five crowd loans in December 2021 will become transferable, and users will likely seek alternative ways to give the token utility across Polkadot and its parachains.”
The Uniswap integration with Moonbeam was championed by Michigan Blockchain and approved by the Uniswap community in May. Wormhole was chosen by the Uniswap DAO as the cross-chain protocol of choice for the Moonbeam, Celo, BNB, and Gnosis deployments and was the top-rated protocol in the Uniswap Bridge Assessment Committee’s security analysis.
The new integration is signing an act to the expansion of multi-chains on the Moonbeam network
The new development makes Moonbeam the newest member to join a handful of other blockchains as a significant part of any multi-chain expansion. Moonbeam also takes the top spot as a cross-chain integration platform due to its innovative design structure.
“This integration highlights Moonbeam as a core part of any multi-chain expansion as it joins Ethereum, Polygon, Avalanche, and BNB Chain with Uniswap v3 deployments. Moonbeam is a top destination for cross-chain integration applications thanks to its fast finality and unique connected contracts approach.” The announcement further explained
The new development comes not long after the Moonbeam community recently approved an important grant. The grant was put forward for Gamma to usher in concentrated liquidity to its three largest DEXes. Gamma currently exists as a leading protocol, designed for active liquidity management. The protocol can also be utilized when creating and implying market strategies.
Using Gamma’s managed values, liquidity will be provided to Uniswap, Stellaswap, and Beamswap. This concentrated liquidity on Moonbeam also makes it possible for individual users to control where their money is used and what it is used for.
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