September 27, 2022

The Uniswap community proposed to deploy the protocol on the Celo blockchain

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Members of the Uniswap community proposed to launch the third version of the decentralized exchange on the Celo network.

The offer was created by Blockchain at Michigan in partnership with the Celo Climate Initiative and the nonprofit Celo Foundation.

The latter, as part of the partnership, intends to launch a $10 million Uniswap user incentive program, as well as provide additional financial assistance to the exchange in the future.

Celo is positioned as a “mobile-centric” and “carbon-negative” blockchain. The EVM-compatible network has 2.6 million addresses with 1.1 million daily transactions on average. Through the Mento smart contract platform, the project supports several algorithmic stablecoins.

The rollout of the Uniswap V3 protocol on the network involves the creation of liquidity pools of “green assets” from Celo, such as tokenized carbon credits.

The cooperation is intended to stimulate future green use cases for the exchange, the authors of the proposal noted.

At the time of writing, the proposal was supported by holders of 5 million UNI governance tokens with almost no objection. Voting ends March 13th.

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