Uniswap v3 is Now Community Approved for Binance Smart Chain

Uniswap v3 is Now Community Approved for Binance Smart Chain

A proposal to deploy the Uniswap v3 protocol to Ethereum’s rival, BNB Chain, received overwhelming support from the Uniswap community.

80% of voters holding Uniswap UNI governance token voted in favor of deploying the third version of the decentralized exchange protocol on Binance's blockchain network.

Ilia Maksimenka, CEO of the decentralized finance protocol Plasma Finance, outlined the reasons why Uniswap v3 should be deployed to BNB Chain. Maksimenka stated that BNB Chain’s large and growing user base can provide a potential new market for Uniswap v3.

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Additionally, Maksimenka noted that BNB Chain offers high transaction speeds and low fees, making it a suitable platform for Uniswap's decentralized exchange services. Moreover, deploying to BNB Chain could also help Uniswap to tap into the growing popularity of DeFi in the Binance ecosystem.

The Plasma Finance team believes that BNB Chain’s active community could also provide valuable support and feedback for the development of Uniswap v3. Further, it was stated that the features BNB Chain supplies, such as staking and cross-chain support, could enhance Uniswap v3's functionality.

Maksimenka also expressed that Binance, the company behind BNB Chain, has a strong track record of supporting and promoting high-quality projects. Therefore the company may potentially provide valuable exposure for Uniswap v3. 

Following the approval of the governance proposal, the Plasma Finance team expresses that the deployment of the necessary smart contracts to the BNB Chain may take some time:

We anticipate deployment of the smart contracts on the BNB Chain to take a few weeks.

According to multiple sources, investors believe that Binance’s global presence and strong brand could increase awareness and adoption of Uniswap v3 among retail and institutional investors.

Aaron S. - Expert Reviewer

by Aaron S. - Expert Reviewer, BitDegree


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