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The proposal to launch Uniswap v3 on BNB Smart Chain (BSC) went ahead with support of 80% of the $UNI votes, 20 million votes in total. Now it’s time for the next and final phase, the “Governance Proposal.”
Uniswap and BSC will be mutually beneficial
said OxPlasma via a Twitter posts that proposal to implement Uniswap protocol v3 (Fees Levels: 1, 0.3, 0.05, 0.01) on the BNB Chain passed the “Temperature Check”, receiving the highest ever Uniswap governance vote in history. 20 million votes in favor, accounting for 80% of the electorate.
Notably, the voting period started from January 17th and ended five days later, on January 22nd.
The community has many reasons behind the decision that Uniswap is ready to be implemented on the BNB Chain.
Firstly, current BNB Chain users have a high growth rate and hence provide Uniswap v3 an opportunity to experience new markets. It would receive an additional $1 billion from TVL and get paid for LPs.
Additionally, he expects around 1-2 million additional users and UNI holders, further earning the respect of DeFi developers.
The deployment will also benefit not only Uniswap v3 but also the BNB chain. The BNB chain will use the Uniswap decentralized exchange ecosystem for more efficient trading services.
In addition, the bridge will support the BNB Chain, creating a better source of liquidity with less slippage. Lastly, they will educate the BNB community about true DeFi and results, with Uniswap v3 as an example.
Disrupting the norm
Uniswap’s entry officially signals the next fight to maintain the lead on the BNB Chain. Panckaeswap, in the lead for a long time, is taking on the super heavyweight Uniswap v3, among other players in the field of DEXes, such as Trader Joe and Wombat Exchange.
At the time of writing, Uniswap had a total locked in value (TVL) of $3.65 billion. Most of these assets are in ethereum, totaling $3.141 billion. On the other hand, Polygon is worth $101.94 million, Optimism is $47.04 million, Arbitrum is $85.08 million, and Celo is $1.26 million.
Over time, these figures are expected to increase as new markets explore DEXs.
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