Key Points:
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
BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…
Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…
Over the years, meme coins have evolved from inside jokes into serious investment opportunities.
Discover BlockDAG's five-tier bonus program's closing phases that enhance buyer holdings. Gain insights on the…
Discover why Qubetics, Solana, and Cardano are redefining the crypto landscape. Learn about milestones, price…
Discover why Qubetics, NEAR Protocol, and Immutable X are the best altcoins to join today,…
This website uses cookies.