Should Uniswap v3 be deployed to Polygon?

Should Uniswap v3 be deployed to Polygon? GFX Labs is submitting Polygon's governance proposal to deploy Uniswap v3 to Polygon on their behalf.

The consensus check passed with 44M (98.87%) YES votes and 500k (1.13%) NO votes.

The temperature check passed with 7.79M (~100%) YES votes and 101 (~0%) NO votes.

The full proposal can be found here.

Summary

The Polygon team proposes to authorize Uniswap Labs to deploy Uniswap protocol to Polygon PoS on behalf of the community.

We believe this is the right moment for Uniswap to deploy on Polygon, for several major reasons:

• Polygon PoS has the second strongest DeFi ecosystem, right after Ethereum L1;
• Deploying to Polygon PoS can bring a lot of benefits (user base growth, huge savings for users, higher user activity, higher revenue, market capture, return to the original DeFi vision etc);
• We are willing to incentivize Uniswap adoption, financially and otherwise;
• Polygon PoS is battle-tested;
• Polygon is aligned with Ethereum and its values.

We respectfully submit this proposal for your consideration, and we are looking forward to your questions and feedback.

We would be willing to commit up to $20M for the aforementioned financial incentives, and we propose to use these funds in the following way:

• Up to $15M for a long-term liquidity mining campaign;
• Up to $5M towards the overall adoption of Uniswap on Polygon.

In addition to the financial incentives we are offering will also be supporting the integration by:

• Actively participate in the design and execution of liquidity mining campaigns;
• Work with prominent projects in the Polygon DeFi ecosystem to help them understand the benefits of using Uniswap V3 as a “money lego.”
• Promote Uniswap as a “money lego” on hackathons and other developer-focused events and efforts etc.

On-chain voting

This proposal has no on-chain functionality other than polling all Uniswap holders. Although the proposal already exceeded the 40m quorum threshold during the consensus check, the Uniswap community feels it is important to allow all UNI holders the opportunity to cast a vote. One important argument in favor of this decision is that Snapshot is not supported by custody providers like Coinbase, Anchorage, etc., smart contract wallets like Argent/Gnosis safe, or meta governance layers like Index & Compound.

Governor Bravo requires at least one on-chain action, so the proposal includes a transfer of 0 UNI to satisfy the requirement.

If the proposal passes this phase, the Uniswap Labs can deploy Uniswap on Polygon on behalf of the Uniswap community.