Uniswap governance members seek to launch on Base, Coinbase’s layer 2
Three Uniswap Governance Members Propose Uniswap v3 to be Introduced to Coinbase’s Layer 2 Network May 17th.
Aiming for the launch on the first day
These governance members (she256, Michigan Blockchain 1, GFX Labs 3) jointly announced the proposal on Uniswap’s forum.
This proposal is specifically aimed at deploying Uniswap to Base on the first day of the latter platform’s mainnet launch. This proposal must then be approved through an on-chain governance decision. This means that UNI token holders will have to vote on this issue.
According to the proposal, Coinbase has $80 billion in assets under custody, while Uniswap has only $4 billion in total locked.
Additionally, the proposal states that Coinbase has been added to Optimism’s codebase and Base transactions will be donated to the Optimism Collective’s finances. Uniswap itself is deployed on Optimism.
Base also works with other projects
Uniswap is the 5th largest DeFi platform by total amount locked, currently with $4.06 billion in cryptocurrency locked.
Base has already attracted many other notable crypto projects in the testnet phase. A diagram shared by Uniswap suggests that Metamask, Chainlink and Compound are among the projects working with Base.
However, Base has been criticized for its relationship with Coinbase’s centralized management company and potential compliance requirements.
Post-Uniswap governance members are aiming to launch at Base, and Layer 2 of Coinbase first appeared on CryptoSlate.