Uniswap V3 Set for Integration on the Polygon zKEVM

The integration of Uniswap V3 on the Zero Knowledge Ethereum Virtual Machine (zKEVM) rollup from Polygon is set for deployment, following a favorable governance vote. 

So far, 42,447,933 token holders have voted in favor of the Uniswap V3 launch on the zKEVM, exceeding the needed 40 million votes. According to data from Tally, a voting dashboard for decentralized finance projects, Gauntlet Network and ConsenSys are leading the votes with 7.5 million and 7.03 million respectively.

The proposal made by Polygon Business Development Lead, Jack Melnick is expected to help increase Uniswap’s Total Addressable Market across TVL, a special interactive wallet if it becomes successful. 

Additionally, the demand for zk-blockchains and closeness to Ethereum is anticipated to increase as users and builders will increasingly turn to zkEVM solutions to build and trade. 

Melnick is optimistic that the integration will provide minimal risks in comparison to other blockchains. His opinion is based on the premise that the Polygon zkEVM inherits Ethereum’s security via zero-knowledge proofs. This is in addition to the fact that the integration has been audited several times by auditors like Spearbit and Hexens.

Interestingly, Polygon’s zkEVM has been operational for six months, accumulating over 84,000 wallets, 75,000 ZK proofs, and 300,000 blocks.

Polygon zKEVM, a Game-Changer for Web3 Ecosystem

The growing popularity of decentralized finance (DeFi) and Non-fungible tokens (NFTs) has resulted in an increase in demand for high-speed, low-cost, and scalable blockchain solutions. Ultimately, Polygon’s zkEVM addresses these issues by delivering a Layer 2 scaling solution that enables faster and cheaper Ethereum network transactions.

One of the most important advantages of the Polygon zkEVM is that it allows developers to construct fully decentralized applications (dApps) that are secure, transparent, and available to anybody globally. This technique is very useful for gaming, social media, and other applications requiring fast throughput and low latency.

While the zKEVM is still in its early stages, the network’s success has resulted in a growing ecosystem of projects, many of which are now integrating the zK-EVM for better privacy and security.