The Uniswap community suggests integrating DEX with Coinbase’s Layer 2 platform
Three Uniswap developers have begun planning for a debut on Base, the Layer 2 blockchain backed by Coinbase.
Three significant members of the Uniswap community have begun talks on the possibility of deploying the largest decentralized exchange on Coinbase’s Layer 2 blockchain Base.
With the passage of an on-chain governance vote, she256, Michigan Blockchain, and GFX Labs have suggested integrating Base into Uniswap so that users may have access to the decentralized exchange using Layer 2 connections.
The proposal’s backers are all members of Uniswap’s independent, decentralized structure. Upon the proposal’s acceptance, GFX Labs, along with the other two, will take on the role of implementing the contracts’ technical aspects on Base.
The idea is a huge win for the young Coinbase initiative if it is approved. In an effort to provide developers with a more approachable and affordable platform for creating decentralized applications on-chain, the exchange unveiled a testnet version of Base in February, with a mainnet launch anticipated for later this year.
The third version of Uniswap (v3) has become one of the most popular distributed banking platforms. On the last day, the Ethereum mainnet was responsible for over half a billion dollars worth of trade traffic on the decentralized exchange protocol that permits token exchanges.
Even though Base is still in its testing phase, the Uniswap Foundation has already signalled that the governance process to install Uniswap version 3 on Base will begin shortly after the testnet launch. Uniswap’s creator, Hayden James, has said that he anticipates launching the DEX on the network using the native canonical bridge managed by Base’s core developers.