Uniswap governance members seek to launch on Base, Coinbase’s layer 2

Three Uniswap governance members proposed deploying Uniswap v3 to Coinbase’s layer 2 network Base on May 17.

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Aiming for day one launch

Those governance members — she256, Michigan Blockchain 1, and GFX Labs 3 — collectively announced the proposal on Uniswap’s forums.

The proposal specifically aims to deploy Uniswap to Base on day one of the latter platform’s mainnet launch. The proposal must next be approved through an on-chain governance decision, meaning that UNI token holders must vote on the matter.

Coinbase has $80 billion of assets under custody, while Uniswap has only $4 billion in total value locked, according to the proposal.

in addition, the proposal noted that Coinbase is adding to Optimism’s codebase and that Base transactions will go toward the Optimism Collective treasury. Uniswap itself has been deployed on Optimism.

Base also working with other projects

Uniswap is the fifth largest DeFi platform by total value locked, with $4.06 billion of cryptocurrency locked at present.

Base has already attracted numerous other notable crypto projects during its testnet phase. A diagram shared by Uniswap suggests that Metamask, Chainlink, and Compound are among the projects that are working with Base.

However, Base has been criticized for its ties to Coinbase’s centralized company and its potential compliance requirements.

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