Uniswap Community Backs Deployment of Protocol on BNB Chain

Following the preliminary vote, Uniswap users expressed support for deploying the third version of the decentralized exchange protocol on the BNB Chain.

🦄 We’re excited to share that our @0xPlasma proposal to deploy @Uniswap v3 on @BNBCHAIN has passed the “Temperature Check” with 20M votes “YES” and 6,495 $UNI voters (the biggest number for the whole Uniswap Governance History).
Moving forward to the final “Governance Proposal” pic.twitter.com/HoIJgY8mX1

— 0xPlasma Labs: DeFi & NFT Metaverse 🦇 🔊 (@0xPlasma) January 22, 2023

For Plasma Labs’proposal in the temperature check, 20 million UNI holders — 80% of participants — expressed support.

Over the coming weeks, the project is expected to present a governance proposal for an official community vote.

Among the reasons cited for adding Uniswap support on BNB Chain were:

• a growing user base for the network, which would unlock a new market;
• high transaction speeds and low fees;
• the advantages of expanding cooperation with Binance and other ecosystem projects.

The potential TVL uplift for Uniswap from the Plasma Labs integration was estimated at $1.18 billion with up to 2 million new users.

At the time of writing, the total value locked in the decentralized exchange stood at $3.77 billion, of which $2.67 billion belonged to Uniswap V3 (DeFi Llama). The vast majority of assets are in the Ethereum network and the leading layer-2 protocols built on it — Polygon, Arbitrum and Optimism.

In March 2022, the community supported deploying the third version of the protocol on the Celo blockchain. The value of assets locked in the network stands at $1.31 million.

In October, voters overwhelmingly voted in favor of integrating Uniswap V3’s Layer-2 zkSync solution from Matter Labs.

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