• 80% of UNI holders voted to support the deployment of the Uniswap protocol’s v3 to BNB Chain.
• Uniswap is a decentralized finance protocol and BNB Chain is a rival of the Ethereum network.
• Blockchain software firm ConsenSys supported the move, viewing Uniswap as “standalone and not beholden to any particular chain”.
The Uniswap community recently proposed to deploy the Uniswap v3 protocol to BNB Chain, a rival of the Ethereum network, and the proposal received overwhelming support from the Uniswap community on its governance forum. Ilia Maksimenka, CEO of the decentralized finance protocol Plasma Finance, argued why the Uniswap v3 protocol should be deployed to BNB Chain, citing the expiration of Uniswap’s license among the reasons.
Following the discussion, 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, viewing Uniswap as “standalone and not beholden to any particular chain” despite centralization concerns.
The move to deploy the Uniswap protocol’s v3 to BNB Chain would be a major milestone for Uniswap and the decentralized finance (DeFi) industry as a whole. It would mark the first time a major DeFi protocol has migrated away from the Ethereum blockchain, and it would also signal the growing power of Binance’s BNB Chain as a viable competitor to Ethereum.
The move is sure to spark debate in the DeFi industry, as it would be the first time a major DeFi protocol has migrated away from the Ethereum blockchain. Supporters of the move argue that it will open up new opportunities for Uniswap, as BNB Chain is a more scalable and secure platform than Ethereum. Critics, however, worry that the move could lead to increased centralization, as BNB Chain is owned and operated by Binance, a major cryptocurrency exchange.
Only time will tell if the move to deploy the Uniswap v3 protocol to BNB Chain is the right move for Uniswap and the DeFi industry as a whole. But for now, the community has made its decision and the move is set to go ahead.