Overview:
This proposal advocates for deploying Uniswap V3 on Sonic (formerly known as Fantom Opera). All of the Uni V3 contracts have already been deployed on Sonic and no further actions need to be taken by the DAO.
About:
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
Key Benefits of Deployment:
- 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.
- Availability of key Infrastructure: Sonic labs has confirmed integration of key infrastructure partners such as Alchemy, Safe, Etherescan, Chainlink, Gelato, Biconomy, Dune etc… to name a few making it extremely easy to onboard new builders.
- 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.
- 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.
- Innovative Funding and Airdrop: Sonic will have an airdrop campaign of 190,500,000 $S tokens to incentivise users and applications. In addition, 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 new innovative ventures.
- Fee Monetization (FeeM): The FeeM program on Sonic, previously named Gas Monetization, offers developers up to 90% of the fees their apps generate, providing them with a sustainable income, retaining talented creators, and supporting network infrastructure.With Fee Monetization, we seek to foster a thriving ecosystem for builders, similar to the ad-revenue model on traditional web platforms.
- 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.
Proposal Stakeholders
Proposer: Sonic Labs
Deployer: GFX Labs
Bridge Provider: Wormhole
Target Chain: Sonic
Front-end: Oku
Proposal Sponsor: N/A
Deployment Details
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 v3-deployments.uniswap.eth will be amended by the Accountability Committee to include the reference to the stated v3 contracts.
v3CoreFactoryAddress: 0xcb2436774C3e191c85056d248EF4260ce5f27A9D
multicall2Address: 0x5d6b0f5335ec95cD2aB7E52f2A0750dd86502435
proxyAdminAddress: 0x0d922Fb1Bc191F64970ac40376643808b4B74Df9
tickLensAddress: 0xB3309C48F8407651D918ca3Da4C45DE40109E641
nftDescriptorLibraryAddressV1_3_0: 0xE3dbcD53f4Ce1b06Ab200f4912BD35672e68f1FA
nonfungibleTokenPositionDescriptorAddressV1_3_0: 0x454050C4c9190390981Ac4b8d5AFcd7aC65eEffa
descriptorProxyAddress: 0x38EB9e62ABe4d3F70C0e161971F29593b8aE29FF
nonfungibleTokenPositionManagerAddress: 0x743E03cceB4af2efA3CC76838f6E8B50B63F184c
v3MigratorAddress: 0x8B3c541c30f9b29560f56B9E44b59718916B69EF
v3StakerAddress: 0x6Aa54a43d7eEF5b239a18eed3Af4877f46522BCA
quoterV2Address: 0x5911cB3633e764939edc2d92b7e1ad375Bb57649
swapRouter02: 0xaa52bB8110fE38D0d2d2AF0B85C3A3eE622CA455
Permit2: 0xB952578f3520EE8Ea45b7914994dcf4702cEe578
UniversalRouter: 0x738fD6d10bCc05c230388B4027CAd37f82fe2AF2
Message Receiver: 0x0a5326B3F6477CE5856d5A3613283228d1C43587
Incentive Plan:
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 give $500k in $S tokens to the DAO. We will work with the Accountability Committee and Uni Growth Program to determine the details and specifics of the distribution. Here are some prospective pools:
- $USDC/$USDT
- $WETH/$solvBTC
- $S/$USDC
Proposal Plan/Timeline:
- Request for Comment: At least one week period of request for comments
- Community Snapshot Check: Initiate a community vote to gauge interest in deploying Uniswap V3 on Sonic with $250k of UNI incentives to match Sonic’s $500k commitment.
- Deployment: Uniswap V3 has already been deployed on Sonic L1. Upon public mainnet launch, we will transfer ownership to the DAO, becoming verified after a 7 day optimistic approval.
- On Chain Vote: If Snapshot vote passes for the incentives, an on chain proposal will be created.
- Distribute Incentives: If the on chain vote passes, we will work with the UAC to distribute the $250k of matched UNI and the Growth Program to allocate the $500k of $S funding.
Conclusion:
Deploying Uniswap V3 on SonicLabs aligns with Uniswap’s mission to democratize financial access by leveraging cutting-edge scalability and developer tools. We look forward to community feedback to refine this proposal further.