• 15 June, 2024
Crypto Exchanges News

Uniswap V3 to be Deployed on StarkNet with StarkWare and Nethermind

Uniswap is considering working with StarkWare and Nethermind to explore the possibility of deploying its V3 version on the StarkNet network, while also addressing any potential issues that may arise from this deployment on the first non-Ethereum Virtual Machine (EVM) network. 

StarkNet, a layer 2 solution, boasts high processing power and low gas costs and utilizes “Cairo” as its programming language.

A member of Nethermind, which develops a tool to convert Ethereum’s development language Solidity to StarkNet’s Cairo, recently posted a proposal to deploy V3 to StarkNet in the Uniswap community. The aforementioned Nethermind has decided to participate in this time’s Twitter space.

According to the proposal, by supporting StarkNet, Uniswap will be able to go beyond EVM and gain access to native Account Abstraction while lowering transaction costs.

If the proposal is approved, the community can expect Uniswap v3 to be fully deployed and supported on the StarkNet mainnet by Q2 2023. The Nethermind team may be able to deploy a transpiled and tested version of Uniswap v3 Core on StarkNet mainnet in Cairo today.

While this deployment is completely viable, some important optimizations are on the way that will allow a StarkNet Uniswap v3 deployment to reap the most benefits from the StarkNet Ecosystem, according to the announcement. 

StarkNet offers high computational scalability and unique design decisions, strictly secured by Ethereum consensus. With the advent of Warp, this proposal offers an easy and ethical route for Uniswap to leverage the StarkNet ecosystem and tooling. StarkNet is Ethereum aligned and believes the goals of our ecosystem align with that of Uniswap.reads the announcement. 

In November of last year, Uniswap launched an NFT aggregator function that supports OpenSea, X2Y2, Sudoswap, LooksRare, and others, utilizing the functions of the NFT aggregator Genie, which Uniswap acquired the same year. The NFT trade volume is around $3.5 million one month after launch (about 450 million yen).

“In 10 to 15 years, there will be a decentralized exchange that surpasses Binance,” said the CEO of the world’s largest virtual currency exchange Binance at a recent event in Switzerland. As interest in exchanges (DEX) grows, the future trend of Uniswap, which is implementing various measures, will garner attention.

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