Proposal #76
The deployment of Uniswap on Sonic has successfully been completed. This is a vote to gauge whether we should match $250k of incentives for Sonic's $500k commitment.
Sonic is an EVM layer-1 blockchain platform focused on delivering exceptional performance, enabling developers to scale their applications without limits while ensuring smooth user experiences with benefits such as:
- Native Bridge from Ethereum - Sonic Gateway
- 10,000 Transactions per Second
- Sub-Second Finality
- Fee Monetisation
- 100% EVM Compatible
- Solidity/Vyper Support
1. Scalability and Speed: Sonic boasts the ability to process 10,000 transactions per second (TPS) with sub-second transaction finality, ensuring fast and irreversible transactions. This makes it highly efficient for applications requiring high throughput and low latency.
2. Availability of Key Infrastructure: Sonic Labs has confirmed integration of key infrastructure partners such as Alchemy, Safe, Etherscan, Chainlink, Gelato, Biconomy, Dune, etc., making it extremely easy to onboard new builders.
3. Cost Efficiency: Operating on Sonic is cost-effective, with a 66% reduction in validator node costs and up to a 96% reduction in large-scale RPC node costs compared to previous solutions. This is coupled with advanced live-pruning capabilities that streamline node management.
4. EVM Compatibility: Sonic is fully compatible with the Ethereum Virtual Machine (EVM), allowing developers to deploy existing smart contracts without modifications. This ensures seamless migration from other chains and expands the potential for onboarding new applications.
5. Innovative Funding and Airdrop: Sonic will have an airdrop campaign of 190,500,000 $S tokens to incentivize users and applications. Additionally, the Sonic Labs Innovator Fund offers up to 200,000,000 $S from the Sonic Foundation treasury to expedite the immediate adoption of apps to the Sonic chain and support innovative ventures.
6. Fee Monetization (FeeM): The FeeM program on Sonic offers developers up to 90% of the fees their apps generate, providing them with sustainable income and retaining talented creators.
7. Advanced Infrastructure: With enhanced node synchronization (10x faster than alternatives) and a significantly smaller database size, Sonic provides a robust and scalable foundation for blockchain operations.
- Proposer: Sonic Labs
- Deployer: GFX Labs
- Bridge Provider: Wormhole
- Target Chain: Sonic
- Front-end: Oku
- Proposal Sponsor: @PGov
As with all canonical v3 deployments, this deployment will be subject to Ethereum Layer 1 Uniswap Protocol governance and control. The text record of the `uniswap.eth` ENS subdomain titled `v3-deployments.uniswap.eth` will be amended by the Accountability Committee to include references to the stated v3 contracts.
Deployed Addresses:
- v3CoreFactoryAddress: 0xcb2436774C3e191c85056d248EF4260ce5f27A9D
- multicall2Address: 0x5d6b0f5335ec95cD2aB7E52f2A0750dd86502435
...
We propose that Uniswap DAO allocate $250k worth of $UNI tokens as liquidity mining rewards for a period of 6 months from the date of launch. Concurrently, Sonic Labs will provide $500k in $S tokens to the DAO. Here are some prospective pools:
1. $USDC/$USDT
2. $WETH/$solvBTC
3. $S/$USDC
$250k UNI @ $14.30/UNI -> 17482 UNI
https://gov.uniswap.org/t/rfc-deploy-uniswap-v3-on-sonic-formerly-fantom/25024/11?u=she256
I don't see sufficient differentiating value-add to justify incentivisation of additional fragmentation.
The Event Horizon Community Voted to Support this Proposal ehUNI-40: EventHorizon.vote/vote/uniswap/ehUNI-40
After thoroughly evaluating all aspects of the proposal, including the current state of the Fantom chain and its rebrand, we find the benefits unconvincing. Fantom’s native DEXs have historically struggled to attract significant TVL. Given the existing native UI support for DEXs such as Curve and Paraswap on Sonic and Fantom chains, an Oku deployment is unlikely to deliver the desired impact.