Community Approves Deployment of Uniswap V3 on BNB Chain

BNB Chain Suspends Network After a Cross-Chain Exploit
  1. The deployment of Uniswap V3 on the BNB Chain has been approved.
  2. The proposal received the largest number of votes in the history of Uniswap governance.
  3. This integration would result in improved financial incentives and liquidity.

0xPlasma announced that the proposal to implement Uniswap v3 on the BNB Smart Chain (BSC) has passed the “Temperature Check” and received 20 million votes. They are currently proceeding to the “Governance Proposal” stage of the process.

The proposal to install Uniswap v3 on the BNB Chain reportedly received the largest number of votes in the history of Uniswap’s governance. 

According to people familiar with this event, the proposition was backed by almost 20 million votes, which is equivalent to 80.28% of all participants. In addition, there were 6,495 UNI voters who participated in the ballot, which was the biggest number in the annals of Uniswap’s administration.

The polls reportedly opened at 6:50 AM on January 17 and were open until 7:00 AM on January 22. The total number of votes cast was close to 25 million. The proposal has received an incredible amount of support from the community, which grants 0xPlasma permission to go forward with the “Governance Proposal.”

If the request is successful, it will provide 0xPlasma Lab permission to install Uniswap v3 on BSC, which is a proof-of-stake chain. The community has reached the consensus that the BSC should consider integrating Uniswap at some point in the near future.

It is anticipated that the integration of BNB Chain and Uniswap v3 would result in improved financial incentives and liquidity. In order to bring in more liquidity, the 0xPlasma community has suggested combining the Quadrat Protocol with the practice of liquidity farming. 

When it comes to governance, 0xPlasma Labs suggests employing Celer Bridge to improve the efficiency of cross-chain communications.

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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

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