#Uniswap’s Cross Chain Deployment and Creation of New ETH Subdomains Gets 100% Approval

On April 14th, it was reported that the Uniswap community’s temperature check vote on the proposal for “Cross chain deployment and creation of new Uniswap. eth subdomains after the expiration of a commercial source code license (BSL)” has ended and has been approved with 100% support.

The temperature check vote for Uniswap on “Cross chain deployment and creation of new Uniswap. eth subdomains after BSL expiration” has been passed

Uniswap, one of the most popular decentralized exchanges (DEXs), recently received a temperature check vote on the proposal for cross chain deployment and creation of new Uniswap ETH subdomains after the commercial source code license expired. The vote has ended and has been approved with 100% support from the community. In this article, we will discuss the implications of this proposal and what it means for Uniswap users.
##What is Uniswap and How Does it Work?
Before delving into the proposal, let’s first discuss what Uniswap is and how it works. Uniswap is a decentralized exchange that allows users to swap different ERC-20 tokens on the Ethereum blockchain. It uses an automated market maker (AMM) model, which means that there are no order books or centralized parties involved. Instead, liquidity providers deposit equal value of two different tokens in a pool and earn a fee on trades.
##The Proposal
The Uniswap community’s temperature check vote was on the proposal for cross chain deployment and creation of new Uniswap ETH subdomains after the commercial source code license (BSL) expired. This proposal is significant because it paves the way for Uniswap to expand beyond the Ethereum blockchain. Currently, Uniswap only allows trading of ERC-20 tokens, but with cross chain deployment, it can support trading of tokens on other blockchains such as Binance Smart Chain, Polygon, and others.
The proposal also includes the creation of new Uniswap ETH subdomains. This means that the domain name “uniswap.eth” will be reserved for the Ethereum blockchain, while other subdomains such as “bsc.uniswap.eth” and “matic.uniswap.eth” will be created for other blockchains. This will help users easily identify which network they are trading on and ensure seamless cross-chain transactions.
##Implications of the Proposal
The approval of this proposal has many implications for the Uniswap ecosystem. First and foremost, it will expand Uniswap’s market reach beyond the Ethereum blockchain. It will attract more users from different blockchains who can now easily trade on Uniswap without needing to go through a centralized exchange.
Secondly, it will increase the liquidity on Uniswap as more tokens from different blockchains will be added to the pools. This will make it easier for traders to find liquidity for their trades and reduce slippage.
Thirdly, the creation of new Uniswap ETH subdomains will make it easier for users to navigate between different networks. It will also help reduce the chances of users mistakenly sending tokens to the wrong network, which can result in loss of funds.
##Conclusion
The approval of the proposal for cross chain deployment and creation of new Uniswap ETH subdomains is a significant milestone for the Uniswap community. It will expand Uniswap’s reach beyond the Ethereum blockchain, increase liquidity, and make it easier for users to navigate between different networks. Uniswap’s automated market maker model has already proven to be successful, and this proposal will further strengthen its position as one of the leading DEXs in the cryptocurrency space.
##FAQs
###Q1. What is an automated market maker (AMM)?
An automated market maker (AMM) is a type of decentralized exchange that relies on a mathematical algorithm to determine the prices of assets. Instead of relying on order books, AMMs use liquidity pools to facilitate trades, which helps reduce slippage and increase liquidity.
###Q2. What is liquidity on Uniswap?
Liquidity on Uniswap refers to the amount of a particular token that is available to trade on the platform. It is provided by liquidity providers who deposit equal value of two different tokens in a pool and earn a fee on trades.
###Q3. What are ERC-20 tokens?
ERC-20 tokens are tokens that are created and managed on the Ethereum blockchain. They adhere to a specific set of rules that govern how they can be transferred and interact with other tokens and smart contracts on the Ethereum network.
##