Li Finance Warns Uniswap Against Using a Single Cross-Chain Bridge

Founder and CEO of Li Finance DEX-aggregator Philipp Zentner urged the Uniswap community not to proceed with voting on deploying Uniswap v3 on the BNB Chain using only Wormhole.

We recommend that Uniswap not select one bridge for its BNB Chain Deployment. Why?

• AMBs are in their nascent stages of development — there is no clear best solution.
• other AMBs like @axelarcore, @Hyperlane_xyz, etc must be considered.
• more research needs to be done.

— Philipp Zentner | LI.FI (@PhilippZentner) February 6, 2023

In his view, security cannot be compromised and Uniswap should not rely on a single option. An independent solution with several cross-chain bridges, Zentner said, would be a win-win option for everyone.

“We are proposing a truly decentralized decision-making process, which will ultimately lead to a method using multiple bridges,” noted Li Finance’s CEO in a comment to The Block.

On January 22, the Uniswap community supported the deployment of the third version of the protocol on the BNB Chain. Later, participants of the platform’s DAO cast the majority of votes in favor of Wormhole as the sole linking bridge between Ethereum and the BNB Chain.

Some developers spoke out against Uniswap’s approach. According to deBridge co-founder Alex Smirnov and Mo Dong from Celer Network, a single cross-chain bridge option creates a single point of failure for the protocol.

Andreessen Horowitz used all 15 million UNI tokens available to it to oppose deploying Uniswap v3 on the BNB Chain using Wormhole.