Thursday, December 7, 2023

Uniswap to Deploy v3 Protocol on BNB Chain.

Uniswap’s governance token holders have voted an overwhelming majority to deploy the v3 protocol to the BNB PoS Chain. 80% of the voters want the third version of the decentralized exchange protocol on the BNB Chain.

Ilia Maksimenka, CEO of Plasma Finance, believes this is the right moment for Uniswap to deploy on BNB PoS Chain. He highlighted License expiration as one of the many reasons. Moreover, the Uniswap community conducted a temperature check poll to determine if the community approved of this idea. ConsenSys, a blockchain software firm, supported this move. Cameron O’Donnell, the DAO governance strategist at ConsenSys, said they see the brand of the protocol as standalone. It is not beholden to any particular chain despite concerns of centralization.

O’Donnell said Uniswap entering the BSC market will provide current and future users with a secure and established medium for decentralized exchange. ConsenSys believes it is important for Uniswap to be chain agnostic to better serve all users within the Web3 space. The Plasma Finance team said the deployment of the necessary smart contracts to BNB Chain might take around five to seven weeks.

The BNB Chain surpassed the Ethereum network, on December 22, in the number of unique addresses. Furthermore, data from BSC Scan stated that the blockchain had 233 million addresses compared with 217 million unique addresses on Ethereum.

Overall, Uniswap’s decision to move its protocol to BNB Chain did not have much of an effect on UNI’s price. It lost 2.39% in the last 24 hours and is trading at $6.69.

All for the test.

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