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DeFi

Uniswap V3 Officially Launches On BNB Chain To Expand Liquidity

March 15, 2023 - Around 2 mins mins to read

Key Points:

  • The Uniswap v3 implementation is now live on the BNB Chain after receiving an overwhelming endorsement from voters in February.
  • Previously, the Wormhole multi-chain bridge was chosen as Uniswap’s authorized bridge to the BNB Chain.
  • The extension implies that users will be able to trade and swap tokens on the network using BNB Chain’s fast speeds and cheap transaction costs.
Eventually, Uniswap officially launched on BNB Chain, Binance’s distributed blockchain network.
Uniswap V3 Officially Launches On BNB Chain To Expand Liquidity

With this extension, Uniswap users will be able to trade and swap tokens across the network by taking advantage of BNB Chain’s cheap transaction costs when compared to Ethereum.

The news that Uniswap shifts to BNB Chain will improve its capacity to service all users in the Web3 domain and represents a step toward boosting accessibility and liquidity for its users.

The change may also give consumers more efficient and cost-effective trading choices. This eventually results in a dominant value proposition for BNB Chain and ecosystem tokens like BNB Coin (BNB).

In February, more than 55 million UNI token holders voted in favor of a governance proposal by 0x Plasma Labs to implement Uniswap v3 on BNB Chain, which was approved. The proposition was brought forward because Uniswap needed to broaden its reach and perhaps stimulate additional growth and acceptance of DeFi.

Uniswap V3 Officially Launches On BNB Chain To Expand Liquidity

Previous to this, Wormhole was selected as the Protocol’s official bridge to the BNB Chain in a Temperature Check vote, which determines whether there is enough will to change the status quo.

The vote pitted two of the most active venture companies in the field, Andreessen Horowitz and Jump Crypto, against one another. A16z used its substantial UNI holdings to vote against the Wormhole selection proposal.

The launch of Uniswap on BNB Chain allows it to take a greater piece of the decentralized exchange market and represents a significant step towards enhancing accessibility and liquidity for its customers.

Moreover, the integration raises awareness and acceptance among retail and institutional investors.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
DeFi

Uniswap V3 Officially Launches On BNB Chain To Expand Liquidity

Key Points:

  • The Uniswap v3 implementation is now live on the BNB Chain after receiving an overwhelming endorsement from voters in February.
  • Previously, the Wormhole multi-chain bridge was chosen as Uniswap’s authorized bridge to the BNB Chain.
  • The extension implies that users will be able to trade and swap tokens on the network using BNB Chain’s fast speeds and cheap transaction costs.
Eventually, Uniswap officially launched on BNB Chain, Binance’s distributed blockchain network.
Uniswap V3 Officially Launches On BNB Chain To Expand Liquidity

With this extension, Uniswap users will be able to trade and swap tokens across the network by taking advantage of BNB Chain’s cheap transaction costs when compared to Ethereum.

The news that Uniswap shifts to BNB Chain will improve its capacity to service all users in the Web3 domain and represents a step toward boosting accessibility and liquidity for its users.

The change may also give consumers more efficient and cost-effective trading choices. This eventually results in a dominant value proposition for BNB Chain and ecosystem tokens like BNB Coin (BNB).

In February, more than 55 million UNI token holders voted in favor of a governance proposal by 0x Plasma Labs to implement Uniswap v3 on BNB Chain, which was approved. The proposition was brought forward because Uniswap needed to broaden its reach and perhaps stimulate additional growth and acceptance of DeFi.

Uniswap V3 Officially Launches On BNB Chain To Expand Liquidity

Previous to this, Wormhole was selected as the Protocol’s official bridge to the BNB Chain in a Temperature Check vote, which determines whether there is enough will to change the status quo.

The vote pitted two of the most active venture companies in the field, Andreessen Horowitz and Jump Crypto, against one another. A16z used its substantial UNI holdings to vote against the Wormhole selection proposal.

The launch of Uniswap on BNB Chain allows it to take a greater piece of the decentralized exchange market and represents a significant step towards enhancing accessibility and liquidity for its customers.

Moreover, the integration raises awareness and acceptance among retail and institutional investors.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News

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