3.0 min read
Uniswap community supported protocol deployment on BNB Chain
80% of UNI holders supported the implementation of Uniswap V3 on the BNB Chain initiated by Plasms Labs. Potential Uniswap TVL growth is $1.18 billion.
Written byWilliam Miller
January 23, 2023
- Owners of 20 million UNI - 80% of participants - supported deploying the third version of the decentralized exchange protocol on the BNB Chain network.
- Potential TVL growth for Uniswap as a result of the Plasma Labs integration was estimated at $1.18 billion with up to 2 million new users added.
- The TVL of the decentralized exchange is $3.77 billion, of which $2.67 billion is in Uniswap V3.
- The majority of assets are located on the Ethereum network and its secondary protocols - Polygon, Arbitrum, and Optimism - account for over 95% of the network's activity.
Uniswap users have voted to implement version 3 of the decentralized exchange protocol on the BNB Chain network.
Owners of 20 million UNI, or 80% of participants, endorsed the proposal from Plasma Labs during the "temperature check".
In the near future, the project is expected to submit a proposal for management that will be voted on by the community formally.
Among the reasons for adding support for Uniswap in the BNB Chain, the Plasma Labs team mentioned:
- The increasing number of users on the network will create a new market.
- High transaction volumes and low costs;
- The benefits of working together more closely with Binance and other ecosystem projects.
The potential increase in TVL for Uniswap as a result of the integration of Plasma Labs was estimated at $1.18 billion, with as many as 2 million new users being added.
As of this article, the total value of the decentralized exchange is $3.77 billion, of which $2.67 billion is in Uniswap V3 (DeFi Llama). The majority of assets are located on the Ethereum network and its secondary protocols - Polygon, Arbitrum, and Optimism - account for over 95% of the network's activity.
Total Value Locked on Uniswap. Source - DeFi Lama
In March 2022, the community endorsed the implementation of a third version of the protocol on the Celo blockchain. The value of blockchain-owning assets on the network is $1.31 million.
To underscore, in October, users overwhelmingly favored the integration of Uniswap V3 with Matter Labs's second-tier zkSync solution.
Tune in to Btcman crypto news in our Telegram - up-to-date information, stats, and cryptoanalysis.
From the blog
The latest industry news, interviews, technologies, and resources.
Comprehensive Btcman guide to swing trading crypto strategies, bots, taxes, platforms, and indicators for profiting from medium-term price moves.