UniSwap holders mine Ethereum for the BNB PoS chain to deploy the V3 protocol

Holders of Uni Exchange (UNI) has decided to deploy the third version of the Decentralized Exchange (DEX) protocol on the Ethereum network rival BNB Chain.

In a proposal posted on January 17, Elia Maksiminka, CEO of decentralized finance (DeFi) protocol Plasma Finance, shed light Reasons why the UniSwap v3 protocol should be deployed in the BNB chain. Maximinka wrote:

“We believe this is the right moment for UniSwap to deploy BNB PoS on the chain, for several reasons (one of them being license expiration).”

Uniswap community after discussion on governance forum Conducted A “temperature check” poll to see if the community approves of the proposal. 80% voted in favor of the deployment while the remaining 20% ​​voted against the update.

Blockchain software firm ConsenSys supported the initiative. According to Cameron O’Donnell, DAO Governance Strategist at ConsenSys, despite centralization concerns surrounding the BNB smart chain, the firm Scenes Brand the protocol as “stand alone and not visible to any particular chain.” O’Donnell explained:

“Regardless of personal views, entering the Unicip BSC market will provide current and future users with a secure and established means of decentralized exchange.”

In addition, the ConsenSys executive also said the firm believes Uniswap needs to be “aware of the chains” to better serve all customers within the Web3 space.

Following the approval of the governance proposal, the Plasma Finance team estimates that it may take approximately 5 to 7 weeks to deploy the necessary smart contracts in BNB China.

Related: BMW Taps Coinweb and BNB Chain for Blockchain Loyalty Program

On December 22, the BNB chain Overtook the Ethereum network In terms of unique addresses. BSCscan data shows that there are 233 million unique addresses on the blockchain, which is more than Ethereum’s 217 million unique addresses. However, while the chain claims to be the “largest Layer 1 blockchain”, this number is far from the 1 billion unique addresses of the Bitcoin network.