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Urgently building the TVL moat, Uniswap deploys proposal to Avalanche protocol with high votes passed.

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Urgently building the TVL moat, Uniswap deploys proposal to Avalanche protocol with high votes passed.

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Deployment of Avalanche Proposal Passed with High Votes

Shortly after landing on BNB Chain, Uniswap deployed a proposal to the Avalanche C-Chain protocol, which was also passed with a high vote of 95.08% : 4.91%.

Why Did a16z Change from Opposition to Support?

Unlike before when a16z used all their Uniswap governance voting power to veto the proposal to launch Uniswap on BNB Chain, this time a16z became the biggest supporter of the Avalanche proposal, which seems to be closely related to a16z's interests.

The BNB Chain proposal used Wormhole as a cross-chain bridge, where Wormhole won by a large margin in the initial survey against LayerZero, while the Avalanche proposal directly suggested adopting LayerZero.

a16z happens to be the biggest investor in LayerZero, which is likely the main reason for a16z's drastically different stance in the two voting results.

Landing on BNB Chain is Interfered with! CZ Fires Back: Is Uniswap Controlled by a16z?

Uniswap is Eager to Build a "Moat"

As of now, Uniswap has been deployed on 7 different blockchains, including:

  • Ethereum: TVL $3.47 billion

  • Arbitrum: $180 million

  • Polygon: $95.2 million

  • Optimism: $51.75 million

  • BSC: $10.56 million

  • Celo: $1.73 million

Uniswap has expressed the urgency of deployment in the proposal, as it considered the example of SushiSwap vampire attacks upon the launch of Uniswap v3, especially introducing the "Business Source License" (BSL) to prevent malicious code copying.

The BSL license is set to expire on April 1st, at which point everyone will have legal rights to copy the v3 code for commercial purposes, so Uniswap v3 must strive to deploy on all major public chains before the open-source code forks in the community.

After the proposal is passed, LayerZero Labs will deploy Uniswap v3 smart contracts on Avalanche C-Chain, and Uniswap Labs will integrate Avalanche into the frontend and trading routes, which will take about five weeks.