- Uniswap has voted to launch its crypto project on the BNB chain.
- 66 % of the community voted in favor of Uniswap (UNI).
- UNI swap is in the hands of bears in the last 24 hours.
Members of the Uniswap (UNI) decentralized exchange (DEX) have voted to launch their new crypto project on the BNB chain, which is a blockchain project on Binance, the world’s biggest crypto exchange platform.
According to Tallyxyz, over 66 percent of the community is said to have voted in favor of the Uniswap decentralized autonomous organization (DAO) and given their approval for the creation of the Ethereum (ETH)-based decentralized exchange on the BNB chain.
On the other hand, not all members voted; just 8.4 percent of UNI community users cast their ballots, which is a rather insignificant number when compared to the 84.8 million people who are registered to vote.
This action has sparked a significant discussion over the management approach that should be employed when installing cross-chain applications. Numerous players, including bridge providers, voiced harsh criticism in response to the decision to use Wormhole as the only “bridge provider” option.
It is possible to move crypto tokens across networks that are compatible by making use of a bridge provider. However, users of Uniswap demanded something that was not reliant on any one bridge in particular.
The addition of Uniswap to the BNB blockchain means that it will now face stiff competition from PancakeSwap (CAKE), the preeminent DEX on the BNB network.
Despite the news, the UNI token has recorded a price decrease in the last 24 hours and is currently trading at $6.35, which is a decrease of 2.28%, while the trading volume has increased by 44.50% and is currently sitting at $68,793,743, indicating that a price increase might take place in the market in the coming hours.
