Uniswap holders ditch Ethereum for BNB Chain to deploy v3 protocol

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A “tem­per­a­ture check” pro­pos­al to deploy the Uniswap v3 pro­to­col to the BNB PoS Chain received over­whelm­ing sup­port from the Uniswap com­mu­ni­ty on its gov­er­nance forum.

80% of vot­ers hold­ing Uniswap’s UNI (UNI) gov­er­nance token have vot­ed in favor of deploy­ing the third ver­sion of the decen­tral­ized exchange pro­to­col on BNB Chain, a rival of the Ethereum network.

In a pro­pos­al post­ed on Jan. 17, Ilia Mak­si­men­ka, CEO of the decen­tral­ized finance pro­to­col Plas­ma Finance, argued why the Uniswap v3 pro­to­col should be deployed to BNB Chain, writing: 

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

After the dis­cus­sion on the gov­er­nance forum, the Uniswap com­mu­ni­ty con­duct­ed a “tem­per­a­ture check” poll to see if the com­mu­ni­ty approved of the idea. Eighty per­cent of the votes were in favor of the deploy­ment, while the remain­ing 20% vot­ed against it.

Blockchain soft­ware firm Con­sen­Sys sup­port­ed the move. Accord­ing to Cameron O’Donnell, DAO gov­er­nance strate­gist at Con­sen­Sys, the firm views the brand of the pro­to­col as “stand­alone and not behold­en to any par­tic­u­lar chain” despite cen­tral­iza­tion con­cerns. O’Donnell explained: 

“Regard­less of per­son­al views, 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 that the firm believes that it’s impor­tant for Uniswap to be “chain agnos­tic” to bet­ter serve all users with­in the Web3 space. 

Fol­low­ing the approval of the gov­er­nance pro­pos­al, the Plas­ma Finance team esti­mates that the deploy­ment of the nec­es­sary smart con­tracts to BNB Chain may take around five to sev­en weeks. 

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

On Dec. 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 with the 217 mil­lion unique address­es on Ethereum. How­ev­er, while the chain claims to be “the largest lay­er 1 blockchain,” the num­bers are far from the Bit­coin network’s 1 bil­lion unique addresses. 

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