Home CryptocurrencyBitcoin Uniswap holders propose to cancel Ethereum for BNB Chain to deploy v3 protocol

Uniswap holders propose to cancel Ethereum for BNB Chain to deploy v3 protocol

by SuperiorInvest

The “temperature check” proposal to deploy the Uniswap v3 protocol to the BNB chain received huge support from the Uniswap community on its governance forum.

80% of voters own Uniswap UNI (AT HER) governance token voted to deploy the third version of the decentralized exchange protocol on the BNB Chain, a rival of the Ethereum network.

In a proposal published on January 17, Ilia Maksimenka, CEO of the decentralized financial protocol Plasma Finance, he argued why Uniswap v3 protocol should be deployed in BNB Chain, he writes:

“We believe this is the right moment to deploy Uniswap on the BNB PoS Chain for many reasons (license expiration being one of them).

After a discussion on the Uniswap community management forum performed a “temperature check” survey to see if the community approved the idea. Eighty percent of the vote was in favor of the deployment, while the remaining 20 percent voted against it.

Blockchain software firm ConsenSys supported the move. According to Cameron O’Donnell, DAO Management Strategist at ConsenSys, views branding the protocol as “self-contained and not tied to any particular chain” despite concerns about centralization. O’Donnell explained:

“Regardless of personal opinions, Uniswap entering the BSC market will provide current and future users with a secure and established medium for decentralized exchange.”

In addition, the ConsenSys executive also said the company believes it is important for Uniswap to be “chain agnostic” to better serve all users in the Web3 space.

Once the governance proposal is approved, the Plasma Finance team estimates that it may take approximately five to seven weeks to deploy the necessary smart contracts to BNB Chain.

Related: BMW uses Coinweb and BNB chain for blockchain loyalty program

December 22, BNB chain surpassed the Ethereum network in the number of unique addresses. BSC Scan data showed that the blockchain had 233 million addresses compared to 217 million unique addresses on Ethereum. However, while the chain claims to be the “largest Layer 1 blockchain,” the numbers are far from the 1 billion unique addresses of the Bitcoin network.

Update: Part of the article has been updated to reflect that the proposal in question is to test community interest in using the BNB Chain to deploy the v3 protocol, the first of three votes needed to approve the governance proposal.

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