Uniswap

Polkadot

Moonbeam

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<p class="is-style-lead">Decentralized finance platform Uniswap is set to launch on the Polkadot network, marking a step forward in expanding its accessibility.</p>



<p><a href="https://crypto.news/price/uniswap/" data-type="URL" data-id="https://crypto.news/price/uniswap/" target="_blank" rel="noreferrer noopener">Uniswap</a>, a decentralized finance (DeFi) platform, has recently announced its decision to deploy on the <a href="https://crypto.news/price/polkadot/" data-type="URL" data-id="https://crypto.news/price/polkadot/" target="_blank" rel="noreferrer noopener">Polkadot</a> blockchain network. </p>



<p>The move has been influenced by a governance vote, initiated by Blockchain at Michigan. This educational entity is committed to nurturing the future of blockchain technology.</p>



<p>The deployment, involving <a href="https://crypto.news/uniswap-is-the-most-active-smart-contract-on-ethereum/" data-type="URL" data-id="https://crypto.news/uniswap-is-the-most-active-smart-contract-on-ethereum/">Uniswap&#8217;s V3 version</a>, is scheduled to occur in the coming month. It is claimed that this version will provide improvements, such as capital efficiency, flexible fee structures, and a superior user experience.</p>



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<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">1/ <a href="https://twitter.com/Uniswap?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@Uniswap</a> &#8211; the most popular decentralized exchange by daily traded volume &#8211; is coming to Polkadot via the <a href="https://twitter.com/MoonbeamNetwork?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@MoonbeamNetwork</a> parachain, increasing volume &amp; liquidity across the ecosystem! <a href="https://t.co/lKaceLv6ce" target="_blank">pic.twitter.com/lKaceLv6ce</a></p>&mdash; Polkadot (@Polkadot) <a href="https://twitter.com/Polkadot/status/1658820737384292352?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 17, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>Moonbeam, a parachain operating within the Polkadot network, has been instrumental in making the Uniswap V3 integration possible. </p>



<p>A Uniswap spokesperson has revealed that the move to Polkadot was always a strategic aim due to the platform&#8217;s prominence in the DeFi sector. Interestingly, <a href="https://crypto.news/polkadots-moonbeam-integrates-layerzero-protocol/" data-type="URL" data-id="https://crypto.news/polkadots-moonbeam-integrates-layerzero-protocol/">Moonbeam</a> approached Polkadot in 2022 with the proposal to run Uniswap V3 smart contracts on the parachain.</p>



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<p>Parachains, integral to Polkadot&#8217;s multichain or &#8220;layer zero&#8221; protocol, aim to boost scalability. They achieve this by preventing transactions from competing against all other smart contracts within the network.</p>



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<iframe loading="lazy" title="Uniswap v3 Review &amp; Tutorial: Beginner&#039;s Guide on How to use Uniswap DEX" width="1020" height="574" src="https://www.youtube.com/embed/yiG82nHWpSc?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
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<p>The shift towards decentralized exchanges, such as Uniswap, has been gaining momentum, particularly after the <a href="https://crypto.news/u-s-doj-yet-to-investigate-sbf-over-ftx-bankruptcy/" data-type="URL" data-id="https://crypto.news/u-s-doj-yet-to-investigate-sbf-over-ftx-bankruptcy/">collapse of the centralized exchange FTX</a> last year. </p>



<p>Decentralized exchanges operate differently from their centralized counterparts, such as <a href="https://crypto.news/binances-cz-severs-twitter-ties-with-elon-musk/" data-type="URL" data-id="https://crypto.news/binances-cz-severs-twitter-ties-with-elon-musk/">Binance</a> or <a href="https://crypto.news/coinbase-creates-high-profile-regulatory-advisory-council/" data-type="URL" data-id="https://crypto.news/coinbase-creates-high-profile-regulatory-advisory-council/">Coinbase</a>, as they don&#8217;t involve banks. This requires users to hold digital assets for transactions, which can be more complex but offers customers more control over their assets.</p>



<p>A recent Q2 <a href="https://ccdata.io/reports/q2-2023-outlook-report" target="_blank" data-type="URL" data-id="https://ccdata.io/reports/q2-2023-outlook-report" rel="noreferrer noopener">report from CCData</a> indicated a 27.6% increase in monthly volumes for decentralized exchanges compared to last year. Uniswap V3 is reportedly leading this trend, capturing an average monthly market share of 50.3% of the total decentralized exchange volume.</p>



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Uniswap to expand DeFi reach with upcoming Polkadot deployment

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