Uniswap establishes a cross-chain bridge selection committee

Uniswap recently established a cross-chain bridge review committee to deploy its decentralized exchange in the future.

Uniswap establishes a cross-chain bridge selection committee

As Kyptos reported, Uniswap approved its proposal to deploy its DEX to BNB Chain via the controversial Wormhole Bridge on the evening of February 10. Before that, a16z used all its 15 million UNIs to oppose the initiative, for support LayerZero instead of Wormhole. This is also the first time in history that a16z used the entire amount of UNI directly controlled by them to participate in governance voting, raising the question of “manipulation of power”.

However, in order to avoid unnecessary conflicts in the past, Uniswap decided to set up a committee whose task is to make recommendations on choosing a bridge in the future, The Block news on the evening of 3/3.

According to NotificationThe committee consists of 6 members:

– Ermyas Abebe – co-author of Cross-chain Risk Framework;

– Jasraj “Jazzy” Bedi – co-founder and CTO of accounting firm Zellic;

– Sean Casey – co-CTO and Head of Enzyme Protocol Development at Avantgarde Finance;

– Ben O’Neill – Executive Vice President of Sales Chaos Labs;

– Peter Robinson – Head of Blockchain Research at Immutable;

– David Hyland-Wood – currently an Assistant Professor at Queensland University of Technology.

Usually, users need to use bridges to move tokens to different blockchains. The 8 bridges included in the consideration list include:

– Axelar

– Celer

– deBridge

– Hyperlane

– LayerZero

– Multichain

– Router Protocol

– Wormhole

According to data from DeFi Llama, Uniswap is currently the second largest DEX in the crypto industry with a 24-hour trading volume of $1.16 billion and 4.03 billion TVL. Therefore, any bridge that is integrated with Uniswap will benefit significantly.

Top 10 DEX exchanges with the largest volume in DeFi array, DeFiLlama screenshot at 09:10 PM on 03/03/2023

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