Due to the unforeseen movement in delegation, the original proposal was unexpectedly cancelled. However, this current proposal is presented with no changes to its content, objectives, and outcomes.
Consensys GFX Labs
Consensys is seeking a Uniswap V3 deployment for Linea’s mainnet launch, looking to further integrate Uniswap with the Consensys product ecosystem (MetaMask, Infura, Linea, et. al). A key aspect of Linea’s value proposition is its synergistic relationship with ConsenSys products. Establishing Uniswap as a dominant DEX on Linea would encourage more trading volume for the protocol and strengthen ties to current Consensys product users.
Linea’s testnet has impressively handled more than 47 million transactions. Many of these transactions are part of the Linea Voyage quest, a crucial initiative designed to help stress-test the network. This exercise aids in identifying potential issues and performance impediments before transitioning to Linea mainnet.
Moreover, Linea is aligned with developers throughout the broader ecosystem via our relationships with MetaMask, Infura, and Truffle, emphasizing our commitment in serving developers, protocols, and builders.
Users will conveniently find Linea natively supported in the MetaMask network dropdown list, and it will support the full range of MetaMask curated experiences. These experiences include On/Off Ramp, MetaBridge, MetaMask Swaps, Portfolio dApp, and MetaMask SDK - all of which could leverage the Uniswap protocol.
Linea aims to be a Type 2 zkEVM 1 and achieve EVM-equivalence, handling native EVM bytecode for proving and verification. This allows for the execution of Solidity smart contracts and enables developers to build while using familiar tools and infrastructure at extremely low switching costs. The network does not use transpilers or custom compilers on bytecode. By taking the compiled bytecode directly from solidity, we significantly reduce the surface area risk for bugs and hacks.
Linea seeks innovation, pushing the boundaries of the Web3 space while maintaining top security and full EVM compatibility as top priorities. One (of the many) things worth mentioning is Linea’s full support of EIP-4337 (Account Abstraction). Working with key stakeholders, the network already uses the single-entry-point contract and runs multiple networks of bundlers and paymasters services.
What is particularly exciting about Linea is its ability to consolidate transactions and submit proofs to the Ethereum mainnet using a novel prover mechanism. This process enhances throughput and minimizes transaction fees while maintaining the inherent security of the Ethereum network.
Vortex , a cryptographic primitive under development at ConsenSys, aims to increase the performance of Linea. It leverages a novel type of zkProof called a recursive aggregation proof. This is based on Ring-SIS, a well-known premise from lattice-based cryptography. This proofing system enables the batching of transactions to increase the network’s throughput while reducing fees. Linea also employs zk circuits to conduct computations. These cryptographic circuits facilitate secure and efficient computations.
Since the inception of Ethereum, ConsenSys was established to become the most potent proponent of decentralization worldwide. We believe that networks such as Ethereum can empower humanity to reach greater heights. With our experience handling web3 infrastructure, wallets, developer tools, public goods, and more, we are confident in our ability to steward Linea to complete decentralization and openness.
Linea is the result of more than 20 months of R&D from our award-winning research team that has released and maintains successful projects in the zk space like the GNARK library. Linea represents advancements in the zkEVM realm and the general field of cryptography. With the Linea network being incubated via Consensys, adoption will be encouraged through existing Consensys products and partnerships.
Some of these integrations include but are not limited to:
Linea is committed to actively pursuing decentralization. Over the following year, the Linea team plans to implement decentralizing features. Examples include introducing a DAO, decentralized sequencers and prover systems.
There are many benefits to a Uniswap deployment on Linea. In the following sections, we highlight our top three…
Observing Uniswap market share across crucial Layer 2 solutions reveals that the protocol enjoys several advantages x-chain. These include a strong community, brand recognition, and, most importantly, the first-mover advantage.
Total value locked (TVL) of Uniswap across significant roll-up ecosystems:
We anticipate that Uniswap will replicate its success in capturing market share on Linea, and we also hope that this deployment will serve as a model for the DAO on how Uniswap will perform with all upcoming L2/zkEVM launches over the next 6-8 months.
MetaMask Swaps is an aggregation product built natively into MetaMask. Across all integrated chains, as of last week, Swaps had an average weekly volume of ~$133M. Uniswap is consistently the largest leveraged dex of this weekly volume, executing ~58%, or $77.1M of trades.
Most of this volume is directed through Ethereum; however, observing comparable L2 deployments shows that Swaps contributed nearly 100M of volume to Arbitrum since integration.
Products like Swaps leverage many service providers, and only a few of them will be deployed on Linea day 1, providing Uniswap the opportunity to capture an even bigger market share of L2 volume produced from the product.
Another benefit for the protocol is the cross-promotion between Consensys and Uniswap, and to double down on the shared mission of contributing to the growth of the Ethereum ecosystem. The team plans to promote the network’s usage and the protocols that operate on it. This, combined with utilizing a recognized deployment of Uniswap, will aid in establishing Uniswap on Linea and in the greater ecosystem.
Consensys will cover all deployment costs, and is willing to contribute any engineering resources required for the deployment.
The Linea team operates and maintains a canonical Open Messaging Service (OMS). The OMS allows for messages to pass to and from Ethereum & Linea. The Ethereum network verifies smart contracts on the L1 that enforce a valid state on Linea.
The OMS will be operated in-house. The design implements a relayer and leverages the rollup to maintain state/security.
Although it is difficult to quantify success criteria, we can confidently state that establishing Uniswap as an early, dominant DEX is a priority.
The overarching success of the Uniswap deployment will be determined through increasing key DeFi metrics that include TVL, Volume, Users, and Swaps. Upon deployment, we will provide a dashboard to monitor Uniswap’s progress and assess market performance.
ConsenSys is a leading Ethereum and decentralized protocols software company. We enable developers, enterprises, and people worldwide to build next-generation web3 applications, launch modern financial infrastructure, and access the decentralized web. Our product suite, composed of MetaMask, Infura, Truffle, Diligence, and CNFT, serves millions of users. ConsenSys has the technical expertise to deploy Uniswap.
GFX Labs is a research and development company focused on decentralized finance (DeFi) and blockchain technology. The Chicago-based company recently launched Oku, an advanced trading interface for Uniswap v3. GFX Labs' goal is to support the democratization of finance through innovations in decentralized finance and finance technology.
ConsenSys is an active delegate and provides software services to Uniswap Labs. However, these developments and contractual relationships do not impact the organization’s independence.
GFX is an active delegate. See our delegate profile for more info.
The approval of this proposal by Uniswap governance will lead the stated Uniswap v3 contracts to be deemed as the canonical deployment on Linea. As is the case 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 v3deployments.uniswap.eth will be amended to include the reference to the stated v3 contracts on Linea.
This proposal has passed the temperature check phase. The relevant Uniswap v3 contracts have also been deployed on the Linea chain. If this onchain vote passes, this deployment will be officially recognized as a canonical v3 deployment through an amendment to the v3deployments.uniswap.eth subdomain. Thereafter, Uniswap Labs is left with the task of handling the front-end integration updates and including Linea to the auto router–this final step is not subject to the DAO’s discretion and is handled entirely by Uniswap Labs, a separate entity from DAO.