- With 80% votes supporting the idea, the Uniswap community has voted in favor of bringing the DEX to the Binance blockchain, Binance Smart Chain.
- The proposal was made by 0xPlasma, who made a request to implement the Uniswap v3 protocol on the BNB chain.
- According to Plasma, integrating BSC will allow exposure to a new potential market, as well as possible high transaction speeds and low fees.
Changes are always good, since they allow structures to be moved, behaviors modified, services and systems improved and, in general, they allow a person or company to leave the comfort zone, with the firm objective of moving forward, improving every day.
This happens in any type of company, and those focused on the crypto environment are no exception. Likewise, a popular phrase says that “to the client, whatever he asks for” or “the client is always right”. These phrases keep a lot of wisdom, since the client should always be the main objective of any company, since without it, business would simply not be done.
Uniswap crypto community has spoken
With this in mind, apparently the crypto firm uniswap is listening to its users, especially after the Uniswap community will hold a vote on the proposal to also bring the DEX to the Binance blockchain, BSC (Binance Smart Chain).
Thus, the possible implementation of the V3 protocol of the decentralized exchange of in the BNB blockchain, as proposed by 0xPlasma, since in the vote carried out by snapshot. it obtained 80 percent of the votes in favor, against only 20 percent against.
the vote began on January 17 at 6:50 a.m. and ended on January 22 at 7:00 a.m., and it had the least amount of almost 25 million votes. The support received for the aforementioned proposal gives 0xPlasma the green light to continue advancing towards the final “Governance Proposal”.
Thus, if allowed, you will authorize 0xPlasma Lab to implement uniswap v3 in BSC, a proof-of-stake chain. Similarly, the crypto community believes that it could be the most opportune moment to incorporate Uniswap to BSC.
“NOur proposal to implement Uniswap v3 on the BNB Chain has passed the ‘Temperature Check’ with 20 million ‘YES’ votes and 6,495 $UNI voters (the highest number for the entire history of Uniswap governance)”he tweeted Plasma.
It is important to note that Uniswap, like other DEXs, is based on smart contracts in order to match transactions and provide liquidity between traders.
The service can lock more than $3.4 billion worth of various tokens across five blockchains, with V3 the latest iteration according to defillama.
For its part, Plasma pointed out that this measure is easily justified, due to the fact that BNB Chain is closely related to Binance, since it has a large and constantly growing user base, which can be translated as a potential new market, in addition to possible high transaction speeds and low fees.
Similarly, it is relevant to say that the Uniswap protocol is, as everyone knows, open source, in the same way that all smart contracts on Ethereum are, which makes things easier if you want to create a fairly faithful copy in other block chains.
It is also noteworthy that BSC is also open source, so, as it is compatible with Ethereum Virtual Machine (EVM), the Uniswap protocol can be implemented without any difficulty.
“The implementation on BNB Chain could help Uniswap take advantage of the growing popularity of DeFi in the Binance ecosystem. BNB Chain offers unique features such as cross-chain and staking support which could improve the functionality of Uniswap v3“, they indicated.
Among other benefits, Plasma noted that a move to BNB Chain could have the ability to at least attract $1 billion in additional liquidity from the BNB Chain ecosystem, as well as about 1-2 million new users..
Likewise, enthusiasts have pointed out on similar occasions that Binance continues to embrace DeFi in its ecosystem; therefore, BNB Chain will give Uniswap an opportunity to capitalize on its popularity, plus Uniswap v3 can benefit from this partnership as it can gain exposure as Binance promotes and supports great projects.
The integration of BNB Chain and Uniswap v3 will likely bring better financial incentives and liquidity.
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