Uniswap Proposal for BNB Chain Deployment Concludes

Vignesh Karunanidhi
Uniswap Proposal for BNB Chain Deployment Concludes
Source: CityAM

Uniswap launched its services in November 2018. It provides decentralized financial services based on the Ethereum blockchain. The exchange had grown to become one of the most significant decentralized exchanges.

Ilia Maksimenka, the CEO of Plasma Finance, published the proposal on January 17. The CEO also discussed the justifications for implementing the v3 protocol on the BNB Chain. Now, the voting has finally concluded, and the final proposal passed with flying colors.

Source: Binance Academy

Uniswap BNB deployment proposal passes with 66% votes

The proposal had 80% favorable UNI token holder supporters on January 24, 2023. According to the details, the proposal has now come to a conclusion with 66% of DAO delegates voting in favor.

Consensys and Compound Finance founder Robert Leshner cast the most votes. However, the votes against the proposal were also strong, which paved the path for a bridge assessment committee that will build a governance proposal framework.

Read more: China to Establish a Research Center for Blockchain in Beijing

The advantages of the BNB chain were also mentioned in the proposal. A large and expanding user base, low fees, and quick transaction times are some of these advantages. Additionally, 0xPlasma Labs will be given permission to implement the v3 protocol on the BNB Chain, according to the earlier details.