#Arbitrum support comes to #Uniswap v3.
#Uniswap, a #decentralized #cryptocurrency #exchange based on the #Ethereum (ETH) network , made a big decision and officially hit the button.
🚨Uniswap V3 Chooses Arbitrum
In the voting made by the Uniswap community, it was discussed whether Uniswap V3 uses #Arbitrum, the second layer scaling solution. Uniswap developer Hayden Adams, in a statement on the subject , emphasized that the vote was given to use Arbitrum with 41.35 million #UNI and no vote was given with 0 UNI. So the Arbitrum update for Uniswap was accepted by far.
In the following announcement, Adams stated that they will integrate Arbitrum to Uniswap V3 as a result of the voting. Stating that they have already started the work, Adams also signaled that the developments will be announced soon.
🚨Optimism and Arbitrum Promise a Future
Arbitrum obtained $ 3.7 million in funding in 2019 and revealed that it will specifically investigate the scalability of smart contracts. In early 2020, the first Rollup on the Ethereum network was officially launched. Arbitrum claims it can reduce transaction fees on the Ethereum network by up to 55 times.
The Arbitrum team, which conducted tests on Uniswap V2, stated that while 7 transactions were performed per second on the Ethereum network, 390 transactions were made on Uniswap V2 for the same fee. In addition, Optimism, which was announced recently and stated to be used by Uniswap, may open the door to a big change in transaction fees for Uniswap.
Optimism, which received $ 25 million in funding in February, was postponed to July due to technical problems, although it was planned to be used in March. Now Optimism and Arbitrum are directly connected to Uniswap. , the joint use of v3 can result in a huge reduction in transaction fees.