With insights from a proposal approved on May 17, 2023, Uniswap, a crypto exchange is expected to be available on Moonbeam, a parachain of Polkadot, stated Coingtelegraph. It is likely that a blockchain-based education group created this idea in Michigan. The idea was passed due to an unknown source of support and only a single UNI token was used for voting.
Sources revealed that the smart contracts for this exchange have been given to Moonbeam (GLMR). It is expected that the only task left for launching the idea is “front-end integration updates and including Moonbeam to the auto-router,” Cointelegraph added.
The proposal included that “Due to tumultuous market conditions, promises of liquidity bootstrapping have been temporarily excised.” Furthermore, the blockchain at Michigan is looking for ways to use Moonbeam for providing liquidity. It is expected that if the proposal is accepted then it would be “on behalf of the DAO,” and the funds will be taken care of by Uniswap’s decentralized autonomous organization, Cointelegraph concluded.
(With insights from Cointelegraph)
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