- Uniswap delegates are voting to adopt Uniswap across multiple blockchains.
- The launch of v2 is intended to starve any existing copycats on these chains.
- Following months of delay, the vote is the final onchain execution poll.
Uniswap is becoming multichain again, three years after its original debut.
This is according to an ongoing onchain vote among community members to deploy Uniswap v2 on all blockchains that already support its more modern v3 protocol, such as Optimism, Arbitrum, and Base.
Participants have already expressed unanimous support, with 10 million UNI tokens cast in favor of the idea.
The proposal has yet to meet Uniswap DAO’s 40 million UNI token quorum threshold, which is the minimum number of DAO votes required for a vote to be valid. Failure to meet the quorum implies that the vote will not pass, regardless of the outcome, and will be restarted.
The polls closed on Saturday.
Erin Koen, governance lead at Uniswap Foundation and the proposal’s author, stated that the lack of Uniswap v2 on some blockchains allowed hazardous copycats to grow. Deployment would instead help to redirect liquidity back to Uniswap.
He also stated that having both Uniswap versions on both blockchains will facilitate improved implementation of tiny token swaps.
While Uniswap v3 has been implemented across various chains, Uniswap v2 has only been available on Ethereum since its inception in May 2021, with a market capitalization of $1.9 billion. It has also handled $465 billion in token swaps to date.
As a standalone version, Uniswap v2 trails only Curve and Uniswap v3 in terms of decentralized exchange market.
