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Proposal to Deploy Uniswap V3 on the Conflux Network

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On April 7th, Conflux launched a proposal to deploy Uniswap V3 on the Conflux Network in the Uniswap community to introduce Web2 users to DeFi, increase penetration in the Asian ma

Proposal to Deploy Uniswap V3 on the Conflux Network

On April 7th, Conflux launched a proposal to deploy Uniswap V3 on the Conflux Network in the Uniswap community to introduce Web2 users to DeFi, increase penetration in the Asian market, and enter the rapidly expanding Conflux ecosystem. The proposal believes that the cooperation between Conflux, Xiaohongshu, and China Telecom has led to a large influx of Web2 users, and Uniswap can increase the amount of working capital and provide new trading opportunities for users by deploying on Conflux. The proposal states that after the on chain voting, the Conflux Foundation can deploy Uniswap V3 on Conflux eSpace, with an estimated time of five weeks; Subsequently, a snapshot vote will be conducted to determine the cross chain bridge solution, and Multichain will be a possible solution.

Conflux Initiates Proposal to Deploy Uniswap V3 on Conflux Network

Introduction

On April 7th, 2021, Conflux, a public, permissionless blockchain network, launched a proposal to deploy Uniswap V3 on its network. This proposal marks a significant step towards introducing Web2 users to the world of DeFi, increasing Uniswap’s penetration in the Asian market, and expanding the Conflux ecosystem.

Background

Conflux is a fast, secure, and scalable blockchain network that is gaining popularity in the crypto community due to its unique features such as permissionless cross-chain assets, high transaction throughput, and low transaction fees. Conflux’s strategic partnerships with Xiaohongshu and China Telecom have enabled the network to attract a large number of Web2 users.
On the other hand, Uniswap is the most popular decentralized exchange (DEX) built on the Ethereum blockchain network that offers users an easy and efficient way to swap ERC20 tokens. Uniswap V3 is the latest version of the protocol that introduces advanced features such as concentrated liquidity and flexible fees, making it a desirable option for traders and liquidity providers.

The Proposal

The proposal aims to integrate Uniswap V3 with Conflux’s ecosystem to offer users a seamless DeFi experience. The integration will allow Conflux users to trade ERC20 tokens on Uniswap V3 while enjoying Conflux’s faster transaction times and lower transaction fees.
Furthermore, the proposal believes that by deploying Uniswap V3 on Conflux, the amount of working capital on the DEX will increase, and users will get access to new trading opportunities. The integration will also enable Uniswap to take advantage of Conflux’s unique features such as cross-chain assets and faster transaction times.

The Process

According to the proposal, the Conflux Foundation will deploy Uniswap V3 on Conflux eSpace after the on-chain voting, which has an estimated time of five weeks. Subsequently, a snapshot vote will be conducted to determine the best cross-chain bridge solution. Multichain is a possible solution; however, the final decision will depend on the community’s preference.

Benefits

The integration of Uniswap V3 with Conflux’s ecosystem offers several benefits to users and the crypto community as a whole. Firstly, it will introduce Web2 users to the world of DeFi, making crypto more accessible. Secondly, it will increase Uniswap’s penetration in the Asian market, thereby consolidating its position as the leading decentralized exchange globally. Lastly, it will expand Conflux’s ecosystem and attract new users and DApps to the network.

Conclusion

The proposal to deploy Uniswap V3 on Conflux is a significant move towards increasing the adoption of DeFi and expanding the crypto community’s reach. The integration will allow users to benefit from the advanced features of Uniswap while leveraging the speed, security, and scalability offered by Conflux. We look forward to seeing the implementation of this proposal and the benefits it will bring to the crypto world.

FAQs

Q1. What is Conflux?

A1. Conflux is a public, permissionless blockchain network that offers high transaction throughput, low fees, and cross-chain assets.

Q2. What is Uniswap?

A2. Uniswap is a decentralized exchange built on the Ethereum blockchain network that offers users an easy and efficient way to swap ERC20 tokens.

Q3. What are the benefits of integrating Uniswap V3 with Conflux?

A3. The integration offers benefits such as increased accessibility to DeFi for Web2 users, increased penetration of Uniswap in the Asian market, and an expanded ecosystem for both Conflux and Uniswap.

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