The Uniswap crypto exchange will soon be available on Moonbeam, a parachain of Polkadot, according to a May 17 approved proposal on the exchange\u2019s governance forum. The proposal was put forward by educational group Blockchain at Michigan. It passed with near-unanimous support, with only a single UNI token being used to vote against it.<\/p>\n
The smart contracts for the exchange have already been deployed to Moonbeam(GLMR), and the only tasks left to fully launch it are \u201cfront-end integration updates and including Moonbeam to the auto router,\u201d the proposal stated.<\/p>\n
Initial liquidity on the exchange may be low, as the proposal warns that \u201c[d]ue to tumultuous market conditions, promises of liquidity bootstrapping have been temporarily excised.\u201d However, it also states that Blockchain at Michigan is exploring the idea of applying for a Moonbeam grant to provide liquidity as soon as possible. If a grant is approved, it would be \u201con behalf of the DAO,\u201d the proposal said, implying that funds would be held by Uniswap\u2019s decentralized autonomous organization. <\/p>\n
In an accompanying announcement from Polkadot (DOT)\u00a0developer Parity Technologies, business development executive Omar Elassar said he thought the new version would help to increase speed and security for Uniswap users:<\/p>\n
\u201cPolkadot is a strong fit for Uniswap, whose users can discover everything the network\u2019s parachains offer, such as high performance, scalability, security, and interoperability.”<\/p><\/blockquote>\n
Polkadot is an interconnected web of blockchain networks called \u201cparachains.\u201d These chains connect to each other and share security through the Polkadot relay chain. The Moonbeam parachain is specifically focused on providing a developer environment similar to Ethereum, with the goal of making it easy for developers to port their Ethereum apps over to the Polkadot ecosystem.<\/p>\n