Uniswap contributors propose deploying DEX on Coinbase's Layer 2 Base

Quick Take

  • Three Uniswap contributors have started discussions about a possible launch on Base, the Layer 2 blockchain supported by Coinbase.
  • The proposal was made by three Uniswap contributory groups, she256, Michigan Blockchain, and GFX Labs.

Three influential contributors to Uniswap, the leading decentralized exchange, have initiated discussions to explore a potential deployment on Coinbase's Layer 2 blockchain Base.

The proposed integration, which was brought forward today on Uniswap's governance forum by she256, Michigan Blockchain, and GFX Labs, would extend user access to Uniswap's decentralized exchange via Base's Layer 2 network, contingent upon the approval of an on-chain governance vote.

The groups behind the proposal form part of Uniswap's decentralized autonomous organization. GFX Labs, among the trio, will shoulder the responsibility for the technical implementation of the contracts on Base, subject to the proposal's approval.

Should the proposal go through, it would be a boon for the fledgling Coinbase project. Aimed at offering developers a more accessible, cost-effective platform for building decentralized apps on-chain, the exchange first introduced a testnet version of Base in February ahead of an expected mainnet launch later this year. Uniswap v3 is one of the most widely used decentralized finance applications. Within the last 24 hours, the decentralized exchange protocol that facilitates token swaps handled about half a billion dollars in trading volume solely on the Ethereum mainnet.


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Uniswap V3 availability 

Currently, v3 is available on several EVM-compatible chains, such as Ethereum, Celo, BNB Chain, and additional Layer 2 networks like Arbitrum. Now, the contributors are setting their sights on Base as the next potential launch network.

Shortly after Base's testnet launch, the Uniswap Foundation had hinted that the governance process to deploy Uniswap's version 3 on Base would commence, despite Base being in the test phase. Uniswap founder Hayden James voiced his expectations of deploying the DEX on the network via the native canonical bridge operated by Base's core developers.

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About Author

Vishal Chawla is The Block’s crypto ecosystems editor and has spent over six years covering tech protocols, cybersecurity, artificial intelligence and cloud computing. Vishal likes to delve deep into blockchain intricacies to ensure readers are well-informed about the continuously evolving crypto landscape. He is also a staunch advocate for rigorous security practices in the space. Before joining The Block, Vishal held positions at IDG ComputerWorld, CIO, and Crypto Briefing. He can be reached on Twitter at @vishal4c and via email at [email protected]


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