A “temperature check” proposal to implement the Uniswap v3 protocol on the BNB Chain received overwhelming support from the Uniswap community in their governance forum.
80% of voters holding Uniswap’s UNI (UNI) governance token have voted to implement the third version of the decentralized exchange protocol on the BNB Chain, a rival to the Ethereum network.
In a proposal published on Jan. 17, Ilia Maksimenka, CEO of decentralized finance protocol Plasma Finance, argument why the Uniswap v3 protocol should be implemented on the BNB Chain, writing:
“We believe this is the right time for Uniswap to be implemented on the BNB PoS Chain, for many reasons (license expiration being one of them).”
After the discussion in the governance forum, the Uniswap community accomplished a “temperature check” poll to see if the community approved of the idea. Eighty percent of the votes were in favor of the deployment, while the remaining 20% voted against it.
Blockchain software firm ConsenSys supported the move. According to Cameron O’Donnell, DAO governance strategist at ConsenSys, the firm points of view branding the protocol as “independent and not bound by any particular chain” despite centralization concerns. O’Donnell explained:
“Regardless of personal opinions, Uniswap’s entry into the BSC marketplace will provide current and future users with a secure and established means of decentralized exchange.”
In addition, the ConsenSys executive also said that the company believes it is important for Uniswap to be “chain agnostic” in order to better serve all users within the Web3 space.
Following the approval of the governance proposal, the Plasma Finance team estimates that the implementation of the necessary smart contracts on the BNB Chain may take between five and seven weeks.
Related: BMW Leverages Coinweb and BNB Chain for Blockchain Loyalty Program
On December 22, BNB Chain surpassed the Ethereum network in the number of unique addresses. BSC Scan data showed that the blockchain had 233 million addresses compared to 217 million unique addresses on Ethereum. However, although the chain claims to be “the largest Layer 1 blockchain”, the numbers are far from the 1 billion unique addresses on the Bitcoin network.
To update: Updated part of the article to reflect that the proposal in question is to verify community interest in using BNB Chain for the implementation of the v3 protocol, which is the first of three votes required to pass a governance proposal.
