A proposal to launch Uniswap v3 on the BNB Smart Chain (BSC) moved forward with the support of 80% of the $UNI votes, a total of 20 million votes. The time has come for the next and final phase, “the Governance Proposal”.
Uniswap and BSC will benefit each other
OxPlasma said through a Twitter post that the proposal to implement the Uniswap v3 protocol (Fee Level: 1, 0.3, 0.05, 0.01) on the BNB chain passed the “Temperature Check” and received the highest Uniswap governance votes in history. 20 million votes were in favor, representing 80% of voters.
In particular, the voting period was from January 17 and ended five days later, on January 22.
The community had many reasons behind the decision that Uniswap was ready to be implemented on the BNB chain.
First, BNB Chain users currently have a high growth rate and thus provide an opportunity for Uniswap v3 to experience a new market. You will receive an additional $1 billion from TVL and fees earned by LP.
Furthermore, it expects 1-2 million additional users and UNI holders, further earning the respect of DeFi developers.
The rollout will also benefit not only Uniswap v3 but also the BNB chain. The BNB chain will use the Uniswap decentralized exchange ecosystem for more efficient trading services.
Also, your bridge will support the BNB Chain, creating a better source of liquidity with less slippage. Lastly, they will be able to educate the BNB community on what real DeFi is and how it performs, using Uniswap v3 as an example.
breaking the norm
Uniswap’s entry officially signals a subsequent battle to maintain leadership on the BNB chain. Panckaeswap, the longtime leader, is up against super heavyweight Uniswap v3, among other players in the DEXes field, such as Trader Joe and Wombat Exchange.
As of this writing, Uniswap has a total value locked (TVL) of $3.65 billion. Most of these assets are in ethereum, to the tune of $3.141 billion. On the other hand, those of Polygon are at $101.94 million, Optimism at $47.04 million, Arbitrum at $85.08 million and $1.26 million at Celo.
Over time, these numbers are expected to increase as the new market explores the DEX.
