Uniswap V3 Integration with Ontology EVM: A Partnership Proposal
Seamless integration of Uniswap V3 onto the Ontology EVM, enhancing reach, user experience, and opening up new DeFi opportunities.
Overview of Proposal
This proposal seeks to integrate Uniswap V3 with the Ontology EVM, backed by a liquidity provision of $2M USDT and a $1M USDT liquidity incentive from the Ontology Foundation to encourage early liquidity on the Network. By leveraging the combined strengths of both platforms, we aim to enhance user experience, augment scalability, ensure low transaction fees, and create a dynamic DeFi environment. This initiative will utilize multiple secure bridges, including Ontology Bridge, Poly Network, Multichain, and cBridge, offering robust cross-chain functionality. The integration will be completed within a 6-week timeframe upon approval, marking a significant stride in Uniswap’s expansion and opening new avenues for DeFi possibilities.
This partnership aims to harness the robust Ontology infrastructure, thereby expanding Uniswap’s user base and functionalities. It will foster a more vibrant DeFi ecosystem and enhance value for all stakeholders.
The Ontology Foundation, responsible for the Ontology Network, is proposing this integration. The team comprises experienced blockchain developers and strategists.
The Ontology Network is a public blockchain project and distributed trust collaboration platform focusing on identity and data management. Its adaptable, modular architecture allows for seamless integration with various industries and businesses. Designed to deliver an excellent user experience, the Ontology Network offers low fees and enhanced security.
Ontology supports Solidity smart contracts, which run in an Ethereum Virtual Machine (EVM) environment on the Ethereum network. Developers can use the same tools, such as MetaMask wallet, web3.js library, Truffle, and Hardhat development frameworks, for writing, testing, deploying, and running EVM contracts on the Ontology testnet and mainnet.
In addition to the EVM support, Ontology also offers multi-VM support, which includes:
- Native contracts: Ontology’s ONT and ONG contracts that govern all the OEP token protocols and their corresponding functioning.
- NeoVM contracts: Smart contracts that are compiled to AVM bytecode, which is then run on the NeoVM engine. These contracts are currently supported in Python and C#.
- WebAssembly (WASM) VM contracts: Smart contracts that are compiled to a portable binary code format that can be read and executed by the WebAssembly engine. Currently supported in Rust and C++.
This multi-VM support allows developers to choose the best-suited virtual machine environment for their projects, ensuring optimal performance and flexibility when building on the Ontology Network.
Ontology boasts a thriving ecosystem and partnerships across diverse sectors, including finance, mobility, music, and decentralized identity. The platform constantly seeks new collaborations to strengthen its position in the blockchain space and deliver greater value to its users. Some notable partnerships and projects within the Ontology ecosystem include:
ONT ID: Ontology’s decentralized identity framework offers users a secure, efficient way to create and manage digital identities, ensuring privacy and data security.
ONTO Wallet: A comprehensive, decentralized crypto wallet, the ONTO Wallet enables users to manage digital assets, identities, and data effortlessly. It supports a wide range of tokens, decentralized applications (dApps), and features like staking, swapping, and NFT marketplaces.
Wing Finance: A decentralized finance (DeFi) platform built on Ontology, Wing Finance focuses on credit-based lending and borrowing. It leverages Ontology’s decentralized identity solutions and cross-chain functionality to create innovative DeFi products.
Daimler Mobility: Partnering with Ontology, Daimler Mobility, a subsidiary of automotive giant Daimler AG, explores the potential of blockchain technology in the automotive and mobility sectors.
These partnerships and projects demonstrate the versatility and adaptability of the Ontology network, which continues to expand its reach and create value for users across various industries.
The Ontology Foundation is a legal entity incorporated in Singapore.
Conflict of Interest Declaration
The Ontology Foundation declares no past or existing financial or contractual relationship with Uniswap Labs, UNI token, or investments of Uniswap Labs Ventures.
Additional Information for Cross-Chain Deployments
Ontology boasts a thriving ecosystem with a substantial user base and daily transfer volume. The network is in the mainnet stage and actively supports multiple virtual machines. It offers low fees and enhanced security, making it a suitable partner for Uniswap V3.
Funds Provided (denominated in USD)
In addition to establishing liquidity pools totaling $2M USDT for the pairs: WONT-pUSDT, WONT-pUSDC, WONT-WONG, WONT-pWBTC, and ONT-pETH, the Ontology Foundation also proposes allocating a $1M USDT liquidity incentive to bootstrap early liquidity on the Network.
KPIs & Metrics
The key performance indicators for this project will be user adoption rates, liquidity provision, and trading volume.
Successful integration of Uniswap V3 onto the Ontology EVM, increased user adoption, higher trading volume, and enhanced liquidity provision.
Potential risks include smart contract vulnerabilities and interoperability issues. These can be mitigated through rigorous testing, audit, and the use of proven security measures like the Ontology Bridge, Poly Network, Multichain, and cBridge.
The integration will use existing bridges - Ontology Bridge, Poly Network, Multichain, and cBridge to ensure seamless integration and enhanced security.
Ontology Bridge: Ontology’s native bridge that provides secure and seamless interoperability between Ontology and other chains.
Poly Network: A global cross-chain protocol that has enabled over $16 billion USD in cross-chain asset transfers across more than 35 blockchains. Audited by BlockSec and PeckShield.
Multichain: The ultimate router for web3, enabling arbitrary cross-chain interactions. Audited by Blocksec and Peckshield.
cBridge: Offering best-in-class cross-chain token bridging with deep liquidity, efficient liquidity management, and new exciting developer-oriented features. Audited by CertiK and PeckShield.
Upon approval, Uniswap V3’s deployment on the Ontology EVM can be completed within 6 weeks.
Duration & Milestones of the Engagement
The partnership will be reevaluated for renewal every 2 years.
License Exemption Details
"Ontology Foundation may use the Licensed Work to deploy it on the Ontology EVM, a high-performance public blockchain and cooperative trust collaboration platform, provided that the deployment is subject