DeFi

Uniswap DAO Supports Deploying Uniswap V3 On BNB Chain

Key Points:

Uniswap DAO approved the proposal regarding the deployment of Uniswap V3 on the BNB Chain by voting.
The proposal won the support of around 66% of the voting power. Delegates with major voting power, including ConsenSys and Compound Finance founder Robert Leshner, voted in favor of the proposal.
Andreessen Horowitz (a16z) voted against the proposal, deploying 15 million votes in the process. The deployment is expected to be executed after 14:08 UTC on February 12.

The final vote for the planned deployment of Uniswap v3 on the BNB Chain has been completed by Uniswap DAO.

The proposal to install Uniswap V3 on the BNB Chain was authorized by the Uniswap DAO through a vote. About 66% of the voting power voted in favor of the plan.

Robert Leshner, the creator of Compound Finance, and ConsenSys, an Ethereum software company, both had significant voting influence and supported the motion. While this was going on, the titan of venture capital, Andreessen Horowitz (a16z), cast 15 million votes against the proposition.

The deployment is anticipated to take place on February 12 after 14:08 UTC.

A considerable discussion concerning the governance structure for cross-chain app deployments has been sparked by this particular vote. Bridge providers and other delegates opposed the deployment’s continuation with Wormhole as the only bridge provider selected. A technology called a bridge provider is used to transport crypto tokens between networks that are supported. They promoted a bridge-neutral approach in its place. a16z, for its part, preferred LayerZero over Wormhole as the winner.

It might be argued that Uniswap’s projected deployment on BNB Chain is urgent. This is due to the fact that Uniswap’s v3 commercial license expires on April 1. The license forbids the introduction of imitation protocols on other platforms.

A bridge assessment committee for Uniswap has been established as a result of these discussions. This group will create the governance proposal’s structure, which will serve as a roadmap for further cross-chain deployments.

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Harold

Coincu News

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.