Uniswap V3 Moves Closer To Expansion On BNB Chain

The proposal to deploy Uniswap V3 exchange on the platform of BNB Chain has just passed the initial verification steps and is in the process of voting by the Uniswap DAO.

Uniswap V3 Moves Closer To Expansion On BNB Chain
Uniswap V3 Moves Closer To Expansion On BNB Chain

Data from Snapshot shows that 80% of the 6,495 wallets that participated in the survey supported this proposal. These wallets currently account for around 20 million UNI tokens.

Initial survey on the aspirations of the Uniswap . community
Initial survey on the aspirations of the Uniswap . community

After voting, this proposal will move to the level of “Administrative Election”. This proposal (drafted by 0xPlasma Labs) wants to bring Uniswap V3 development to the BNB Chain ecosystem. Attached to that, Celer is the partner chosen as the cross-chain bridge for this step.

If approved, BNB Chain will be the 6th network to support this decentralized exchange. Uniswap V3 version is currently available on Ethereum, Polygon, Arbitrum, Optimism and Celo platforms. According to data from DeFiLlama, the protocol currently controls $2.68 billion in assets across the five mentioned chains. Notably, the version on Ethereum currently accounts for about 90% of the total value locked on the Uniswap protocol.

0xPlasma affirms that the Uniswap community will benefit from this step. BNB Chain is currently the 3rd ranked blockchain and the number of assets locked on the platform.

Speaking of competitors, PancakeSwap (a decentralized exchange like Uniswap) is currently the #1 protocol on BNB Chain. The exchange currently accounts for $2.4 billion in locked assets. 0xPlasma says Uniswap on BNB Chain could be ready to hit half of said figure.

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