An under-the-radar altcoin is skyrocketing after being added to Coinbase’s listing roadmap. In a new thread on the social media platform X, top US-based crypto exchange platform Coinbase is announcing the addition of decentralized finance (DeFi) protocol Moonwell (WELL) to its suite of products. News of the addition sent WELL flying as it went from […]
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A small-cap crypto project built on Kusama (KSM) has exploded by more than 188% this week amid widespread momentum among Polkadot (DOT) ecosystem projects. Moonriver (MOVR) is an Ethereum (ETH)-compatible parachain built on Kusama. The project serves as a canary network to test code for Moonbeam (GLMR), a smart contract platform for cross-chain connected applications. […]
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The decentralized exchange gets a Polkadot version via the Moonbeam network.
The Uniswap crypto exchange will soon be available on Moonbeam (GLMR), a parachain of Polkadot (DOT), according to a May 17 approved proposal on the exchange’s governance forum. The proposal was put forward by educational group Blockchain at Michigan. It passed with near unanimous support, with only a single UNI token being used to vote against it.
1/ @Uniswap - the most popular decentralized exchange by daily traded volume - is coming to Polkadot via the @MoonbeamNetwork parachain, increasing volume & liquidity across the ecosystem! pic.twitter.com/lKaceLv6ce
— Polkadot (@Polkadot) May 17, 2023
The smart contracts for the exchange have already been deployed to Moonbeam, and the only tasks left to fully launch it are “front-end integration updates and including Moonbeam to the auto router,” the proposal stated.
Initial liquidity on the exchange may be low, as the proposal warns that “Due to tumultuous market conditions, promises of liquidity bootstrapping have been temporarily excised.” However, it also states that Blockchain at Michigan is exploring the idea of applying for a Moonbeam grant to provide liquidity as soon as possible. If a grant is approved, it would be “on behalf of the DAO,” the proposal said, implying that funds would be held by Uniswap’s decentralized autonomous organization.
In an accompanying announcement from Polkadot developer Parity Technologies, business development executive Omar Elassar said he thought the new version would help to increase speed and security for Uniswap users:
Polkadot is a strong fit for Uniswap, whose users can discover everything the network's parachains offer, such as high performance, scalability, security, and interoperability.
Polkadot is an interconnected web of blockchain networks called “parachains.” These chains connect to each other and share security through the Polkadot relay chain. The Moonbeam parachain is specifically focused on providing a developer environment similar to Ethereum, with the goal of making it easy for developers to port their Ethereum apps over to the Polkadot ecosystem.
Related: Chainlink integrates with Moonbeam to provide price data for Polkadot
Uniswap is the largest decentralized exchange (DEX) in the world by trading volume, doing over $480 million in trading per day according to CoinMarketCap. It was originally created for the Ethereum network, but has been aggressively expanding into other networks over the past few months. Uniswap launched a BNB Chain version on March 15 and deployed to Polygon zkEVm on April 14. It also produced an iOS mobile app on April 14 to facilitate onboarding of more users.
Terra Bridge, the cross-chain bridge protocol now supports Solana, Fantom, Moonbeam, Osmosis, and Avalanche according to Terraform Labs CEO Do Kwon. “Easiest way to move funds in crypto,” the Terraform Labs CEO explained in a tweet. Terra Bridge Adds 5 New Chains On April 12, 2022, Terraform Labs co-founder Do Kwon told his 352,800 Twitter […]
The host of popular crypto channel Coin Bureau says that a new Ethereum-compatible altcoin built on Polkadot (DOT) should have a “promising future” ahead of it. In a new video, pseudonymous host Guy tells his two million YouTube subscribers that he’s got his eye on Moonbeam (GLMR), one of the first fully operational parachains on […]
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As cross-chain interoperability protocol Polkadot (DOT) continues to grow, several projects built upon its framework are seeing major price gains. Moonbeam (GLMR) is a smart contract platform compatible with the Ethereum Virtual Machine (EVM) that functions as a Polkadot parachain. The project goes beyond Ethereum’s base features by also offering staking, on-chain governance and cross-chain […]
The post Four Altcoins Built on Polkadot (DOT) Explode Amid Rapid Ecosystem Developments appeared first on The Daily Hodl.
Moonwell is an open lending and borrowing DeFi protocol on Moonbeam and Moonriver. Moonwell’s composable design can accommodate a full range of DeFi applications in the greater Polkadot and Kusama (DotSama) ecosystem. Luke Youngblood is the co-founder of Lunar Labs, which is developing the Moonwell DeFi protocol. Luke has decades of experience working in tech, […]
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. Derek Yoo is the CEO of PureStake, the technology company behind the Moonbeam Network. He recently […]
An eagerly anticipated Polkadot-based project is lighting up the night sky after crypto exchange Binance announced plans to list the token. Moonbeam (GLMR) is a smart contract platform compatible with the Ethereum Virtual Machine (EVM) that functions as a Polkadot parachain. The project goes beyond Ethereum’s base features by also offering staking, on-chain governance and […]
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