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Blockchain

Uniswap On BNB Chain: Wormhole Wins The Vote For The Best Bridge

January 31, 2023 - Around 2 mins mins to read

Key Points:

  • Wormhole has been chosen as the preferred crypto bridge provider for the intended deployment of Uniswap v3 on the BNB Chain.
  • Wormhole won the popular vote with 62% of the vote. The final governance plan for the implementation of Uniswap v3 on the BNB Chain will now include wormhole.
  • Dong took things a step further and suggested using several bridges to implement Uniswap governance. Through adapters on Celer, the solution enables the inclusion of other bridge protocols.
According to the results of an off-chain vote that was completed on Tuesday, Wormhole has been chosen as the preferred crypto bridge provider for the intended deployment of Uniswap v3 on the BNB Chain.
Uniswap On BNB Chain Wormhole Wins The Vote For The Best Bridge

The voting included Wormhole among a list of four crypto bridge protocols. LayerZero, Celer, and deBridge made up the other three. According to Snapshot data, Wormhole won the popular vote with 62% of the vote. The final governance plan for the implementation of Uniswap v3 on the BNB Chain will now include wormhole.

The vote to choose the bridge was a last-minute addition to the procedure. A preliminary vote for the deployment of the decentralized exchange protocol used by on the BNB Chain had just been completed.

However, some crypto bridge designers opposed the use of a lone bridge supplier. Participants opposed using a single bridge protocol for Uniswap’s multi-chain growth, including co-founders of deBridge Alex Smirnov and Celer Mo Dong. They said that using such a strategy would cause Uniswap to become vendor locked in, tying it to just one cross-chain messaging provider. They claimed that using such a strategy might put the protocol at risk of having a single point of failure.

Dong took things a step further and suggested using several bridges to implement Uniswap governance. Through adapters on Celer, the solution enables the inclusion of other bridge protocols.

Despite these arguments, Uniswap will only use one bridge supplier for the deployment of its proposed BNB Chain. This is because a bridge-agnostic technique is currently not supported by the protocol. As mentioned on the DAO forum, developing such an architecture would also need a large amount of engineering time.

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

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

Website: coincu.com

Annie

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BNB Chain

Uniswap

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Blockchain

Uniswap On BNB Chain: Wormhole Wins The Vote For The Best Bridge

Key Points:

  • Wormhole has been chosen as the preferred crypto bridge provider for the intended deployment of Uniswap v3 on the BNB Chain.
  • Wormhole won the popular vote with 62% of the vote. The final governance plan for the implementation of Uniswap v3 on the BNB Chain will now include wormhole.
  • Dong took things a step further and suggested using several bridges to implement Uniswap governance. Through adapters on Celer, the solution enables the inclusion of other bridge protocols.
According to the results of an off-chain vote that was completed on Tuesday, Wormhole has been chosen as the preferred crypto bridge provider for the intended deployment of Uniswap v3 on the BNB Chain.
Uniswap On BNB Chain Wormhole Wins The Vote For The Best Bridge

The voting included Wormhole among a list of four crypto bridge protocols. LayerZero, Celer, and deBridge made up the other three. According to Snapshot data, Wormhole won the popular vote with 62% of the vote. The final governance plan for the implementation of Uniswap v3 on the BNB Chain will now include wormhole.

The vote to choose the bridge was a last-minute addition to the procedure. A preliminary vote for the deployment of the decentralized exchange protocol used by on the BNB Chain had just been completed.

However, some crypto bridge designers opposed the use of a lone bridge supplier. Participants opposed using a single bridge protocol for Uniswap’s multi-chain growth, including co-founders of deBridge Alex Smirnov and Celer Mo Dong. They said that using such a strategy would cause Uniswap to become vendor locked in, tying it to just one cross-chain messaging provider. They claimed that using such a strategy might put the protocol at risk of having a single point of failure.

Dong took things a step further and suggested using several bridges to implement Uniswap governance. Through adapters on Celer, the solution enables the inclusion of other bridge protocols.

Despite these arguments, Uniswap will only use one bridge supplier for the deployment of its proposed BNB Chain. This is because a bridge-agnostic technique is currently not supported by the protocol. As mentioned on the DAO forum, developing such an architecture would also need a large amount of engineering time.

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

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

Website: coincu.com

Annie

Coincu News