Deploy Uni V3 to Gnosis Chain
In production since 2018 (as the xDai Chain), the rebranded Gnosis Chain is rapidly evolving with a new focus and mission. Gnosis Chain (GC) provides a real-world value chain that closely mirrors the Ethereum 2.0 ecosystem. This includes a beacon chain framework, rollups, and other vital functionality. GC will serve in a front-running capacity for important Ethereum 2.0 updates,
Tuned parameters on the Gnosis Chain enable faster blocks and epochs, low-cost stable transactions, and the opportunity to construct trustless bridges and conduct seamless transfers between GC and the Ethereum 2.0 mainnet.
The Gnosis Chain team is committed to ecosystem development, adoption, and growth as the Eth2.0 landscape comes into focus. With a mission to “accelerate Ethereum,” Gnosis Chain is poised for expansion. With this in mind, we propose a Uniswap v3 deployment to the Gnosis Chain. We believe there are many benefits for both Uniswap Labs and Uniswap users, some of which include:
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A DeFi ecosystem primed for growth. Once deployed, Uniswap would become a cornerstone DeFi engine for protocols using and interacting within the ecosystem. Perpetual Protocol is a flagship protocol on GC that relies on Uniswap v3. This deployment will enable Perpetual to continue to flourish on the Gnosis Chain. Additional bluechip deployments with growing TVL include Curve, Sushiswap, and Tornado, with many new and promising DeFi projects choosing Gnosis Chain as their homebase. A list of current projects is available at https://gnosischain.world/
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An iterative environment. Uniswap Labs can experiment with new functionality and front-run new features in a real-value environment (which differs from a test environment in that users behave differently with value on the line, token supply is limited, real adversaries exist, etc). Uniswap can spot and remediate any final potential issues stemming from important Ethereum updates prior to mainnet activation and take advantage of optimized slot and epoch times for faster iteration.
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Tight Ethereum compatibility. Tools, resources, projects, and protocols supported by Ethereum are already supported by the Gnosis Chain, with more onboarding regularly. Gnosis Safe is facilitating daily operations for many existing projects. A trustless bridge architecture designed to connect Ethereum and Gnosis Chain is in the works. The Gnosis Beacon Chain validator set is expanding rapidly bringing massive decentralization to the chain.
The primary differences separating the GBC from the Ethereum Beacon chain include 5-second blocks and < 2-minute epochs, stable transactions with a max target of $.01 per 100K gas, an economically and geographically diverse validator set, and a lower-stakes, lower-TVL environment.
Unique chain characteristics. Stable, low-cost transactions provide unique opportunities for Uniswap users. When gas costs are known and have a low impact on trade decisions, new strategies and approaches emerge which are currently untenable on the Ethereum mainnet or other chains with wide-ranging fee variability.
User incentives. A large directive for the Gnosis Chain is to increase the user base and on-chain activity by strategically allocating funds from the GnosisDAO treasury to promote adoption. An ecosystem fund has been created for this purpose, and we propose to use a portion of these funds to promote Uniswap v3 on Gnosis Chain. We propose providing up to $10M for a tailored liquidity mining program.
The Gnosis Chain is preparing for substantial growth in the coming year. We have implemented an aggressive infrastructure grants program including large grants to Nethermind, Lighthouse and Erigon client teams to support base-layer functionality and security. The ecosystem fund will bring in many new projects, and we feel Uniswap v3 is an essential component that will serve as a foundational layer for this growth.
We welcome any questions and comments and are happy to provide any clarifications as needed. We are excited to submit this proposal to the Uniswap community and look forward to your feedback! Thank you.
