Uniswap holders ditch Ethereum for BNB PoS Chain to deploy V3 protocol

Holders of Uniswap (UNI) person decided to deploy the 3rd mentation of the decentralized speech (DEX) protocol connected BNB Chain, a rival of the Ethereum network.

In a connection posted connected Jan. 17, Ilia Maksimenka, the CEO of the decentralized concern (DeFi) protocol Plasma Finance, highlighted reasons wherefore the Uniswap v3 protocol should beryllium deployed to the BNB Chain. Maksimenka wrote:

“We judge this is the close infinitesimal for Uniswap to deploy connected BNB PoS Chain, for galore reasons (one of them is License expiration).”

After the treatment connected the governance forum, the Uniswap assemblage conducted a “temperature check” canvass to spot if the assemblage approves of the proposal. 80% of the votes came from those successful favour of the deployment portion the remaining 20% voted against the update.

Blockchain bundle steadfast ConsenSys supported the move. According to Cameron O'Donnell, the DAO Governance Strategist astatine ConsenSys, contempt centralization concerns surrounding BNB Smart Chain, the steadfast views the marque of the protocol arsenic "standalone and not beholden to immoderate peculiar chain." O'Donnell explained:

“Regardless of idiosyncratic views, Uniswap entering the BSC marketplace volition supply existent and aboriginal users with a unafraid and established mean for decentralized exchange.”

In addition, the ConsenSys enforcement besides said that the steadfast believes that it’s important for Uniswap to beryllium “chain agnostic” to amended service each users wrong the Web3 space. 

Following the support of the governance proposal, the Plasma Finance squad estimates that the deployment of the indispensable astute contracts to the BNB Chain whitethorn instrumentality astir 5 to 7 weeks.

Related: BMW taps Coinweb and BNB concatenation for blockchain loyalty program

On Dec. 22, BNB concatenation surpassed the Ethereum network successful presumption of unsocial addresses. BSC Scan information showed that the blockchain has 233 cardinal which is much than the 217 cardinal unsocial addresses successful Ethereum. However, portion the concatenation claims to beryllium “the largest furniture 1 blockchain,” the numbers are acold from the Bitcoin network’s 1 cardinal unsocial addresses.