Decentralized exchange Uniswap has officially announced its launch on the BNB Chain, Binance’s smart contract blockchain. The move follows a governance proposal from 0x Plasma Labs in February, which garnered the support of 66% of voters, representing over 55 million UNI tokenholders. The successful proposal emphasized the need for Uniswap to broaden its reach and foster the growth and adoption of decentralized finance (DeFi) within the ecosystem.
Prior to the launch, Wormhole was selected as Uniswap’s designated bridge to the BNB Chain in a temperature check vote. This process is designed to gauge the community’s willingness to implement changes to the existing system.
The expansion to the BNB Chain offers numerous benefits, as outlined in the official announcement. These advantages include user growth, lower transaction fees, and access to new geographical markets. Furthermore, the integration with the BNB Chain is expected to enhance Uniswap’s capacity to serve the diverse needs of users within the Web3 space, ultimately promoting increased accessibility and liquidity for the platform’s user base.