We're thrilled to announce that Uniswap, the top-ranked decentralized exchange protocol by trading volume, is now officially live on BNB Chain! After garnering an impressive 66% of voter support, Uniswap Protocol v3 has been successfully deployed on BNB Chain.
In February, a governance proposal by 0x Plasma Labs to deploy Uniswap v3 on BNB Chain passed with more than 55 million UNI token holders voting in favor. Prior to this, Wormhole was chosen as the Protocol’s designated bridge to BNB Chain in a Temperature Check vote.
The proposed expansion to BNB Chain offers several significant advantages, including user growth, lower fees, and tapping into new geographical markets. This move has the potential to provide users with more efficient and cost-effective trading options.
Furthermore, the move to BNB Chain will enhance the Uniswap Protocol’s ability to better serve all users within the Web3 space and marks a significant step towards increasing accessibility and liquidity for its users.
Alvin Kan, Director of Growth at BNB Chain Innovation welcomed the news of the launch, saying, “With BNB Chain’s thriving and dedicated community, scalability, and accessibility, it is a launchpad for all things web3, where protocols looking to reach larger audiences can grow. We are delighted to see Uniswap’s continued commitment of delivering value to its users and building for the future of decentralization.”
The move means that Uniswap Protocol users will be able to leverage BNB Chain’s high speed and low transaction fees to trade and swap tokens across the network. The integration also allows Uniswap to tap into a new pool of liquidity and with BNB Chain’s large DeFi developer community, and increase awareness and adoption amongst retail and institutional investors with a potential of 1-2 million new users and Protocol stakeholders.
The launch is well-timed as it aligns with the DeFi industry's requirement for greater accessibility and cross-blockchain compatibility. Uniswap Protocol’s deployment on to BNB Chain means that it can capture a larger share of the growing DeFi market.
The launch is expected to further fuel the growth of both Uniswap and BNB Chain, as more users join the ecosystem to take advantage of the benefits DeFi offers.