Uniswap users can now trade and swap tokens across the BNB Chain network and access a pool of liquidity with BNB Chain’s DeFi developer community thanks to the integration.
The decentralized exchange Uniswap has now been launched on the BNB Chain, the smart contract blockchain created by Binance, after receiving widespread voter support in February. A proposal by 0x Plasma Labs to deploy Uniswap v3 on the BNB Chain was passed with over 55 million UNI tokenholders voting in favor of it.
The reason for this proposal was to allow Uniswap to expand its reach and promote further growth and adoption of decentralized finance (DeFi). To that end, Wormhole was previously chosen as the Protocol’s designated bridge to BNB Chain in a temperature check vote to determine if there was sufficient will to make changes to the status quo.
The expansion to BNB Chain offers various advantages, including lower fees, user growth, and tapping into new geographical markets. The announcement also noted that the move to BNB Chain will increase accessibility and liquidity for Uniswap users and enhance its ability to serve all users within the Web3 space.
With the integration, Uniswap users can now trade and swap tokens across the BNB Chain network and access a pool of liquidity with BNB Chain’s DeFi developer community. This will help increase awareness and adoption among both retail and institutional investors.
The announcement further highlights that the launch aligns with the DeFi industry’s need for greater accessibility and cross-blockchain compatibility. It is expected that this launch will fuel the growth of both Uniswap and BNB Chain, indicating a significant step forward in the evolution of decentralized finance.