Uniswap (UNI), a decentralized protocol, is ready to launch the third version of its platform. The protocol aims to provide a suitable platform where users can seamlessly exchange ERC-20 tokens without using an order book.
For the v3 launch, the protocol is performing a ‘temperature test’ in order for the blockchain to work. The proposal is to deploy Uniswap v3 on the Binance Smart Chain (BNB) instead of the Ethereum blockchain. The proposal received a vote of the UNI community in the government forum using the UNI token.
Surprisingly, about 80% of UNI holders support the deployment of Uniswap v3 on the BNB Chain, Ethereum’s competitor. Unfortunately, this leaves a smaller percentage of votes for the Ethereum blockchain, thus losing the temperature check proposal.
🦄 We are excited to show you who we are @0xPlasma proposal to distribute @Uniswap v3 already @BNBCHAIN has passed “Temperature Check” with 20M votes “YES” and 6,495 $ UNI voters (the largest number for the entire Uniswap Governance History).
Advance to the final “Governance Proposal” pic.twitter.com/HoIJgY8mX1— 0xPlasma Labs: DeFi & NFT Metaverse 🦇 🔊 (@0xPlasma) January 22, 2023
0xPlasma Labs, a decentralized finance protocol, contributed to the proposal. According to a post on Twitter, the company said noted that “Check the Temperature” in the proposal got 20 million votes for ‘YES.’ In addition, the support vote came from 6,495 $UNI voters, the most significant vote number in the history of the Uniswap Governance system.
0xPlasma Labs CEO Lists the Benefits of Using Uniswap V3 on the BNB Chain
Recently, the CEO of 0xPlasma Labs, Ilia Maksimenka, write proposal to deploy the Uniswap v3 protocol. The CEO noted his argument about the benefits of using the new v3 protocol on the BNB Chain.
Maksimenka cited the expiration of the Uniswap License as one of the reasons for choosing the BNB Chain. Additionally, he mentioned that the chain has many packages that will help boost Uniswap’s popularity in the DeFi space. Some include high transactions, low fees, staking opportunities, cross-chain support, etc.
Also, the CEO acknowledged that Binance has gained a global presence, rated as the largest crypto exchange in the world. Therefore, as a strong brand, using the BNB Chain will increase the awareness and adoption of the v3 version globally for Uniswap.
Proposal Gets Support
The proposal has received support from other companies and crypto participants. For example, ConsenSys, the blockchain software company behind one of Ethereum’s most important clients, is optimistic about the deployment move.
DAO governance strategist at ConsenSys, Cameron O’Donnell, revealed company attitude. First, the company noted the need for Uniswap to be agnostic in its services to users, especially in the Web3 space, even though its license expired in April.
Therefore, O’Donnell maintains that existing and future users of the platform will enjoy a secure and robust platform for decentralized exchange through the BSC marketplace. Apart supportive comments comes from Brian-Armstrong, CEO at Coinbase, and Modong is also optimistic about the deployment of Uniswap v3 on BNB Chain.
The Plasma Finance team started operations after Uniswap’s governing community approved the proposal. The team notes that it will take five to eight weeks to deploy all relevant Uniswap smart contracts to the BNB Chain.
At price performance from UNI are all on a positive track for the past 30 days. The token has gained more than 28% in the past month and shows a slight increase of 0.38% in the last seven days.
But at the time of writing, UNI is trading on $6.60shows a decrease in the past 24 hours.
Featured Images From CityAM, Graphics From Tradingview