Uniswap’s version 3 (v3) protocol is set to shift from the Ethereum network to BNB Chain following a majority vote from governor forums.
The “temperature check” proposal passed after 80 percent of voters approved the measure to deploy v3 on the BNB Chain.
Ilia Maksimenka, chief executive of decentralised finance protocol Plasma Finance, explained his reasoning for the network swap in a 17 January post.
He said: “We believe this is the right moment for Uniswap to deploy on BNB [proof of stake] Chain, for many reasons (one of them is License expiration).”
Adding, he said the BNB chain had “a large and growing user base, providing a potential new market” and offered “high transaction speeds and low fees.”
BSC to Provide ‘Secure’ DeFi Exchange
Cameron O’Donnell, a decentralised autonomous organisation (DAO) governance strategist at ConsenSys, explained why his firm backed the measures.
He said in a statement: “Regardless of personal views, Uniswap entering the BSC market will provide current and future users with a secure and established medium for decentralized exchange.”
The company also supported a “chain agnostic” platform to help people in the Web3 space. The process may require five to seven weeks to deploy smart contracts.
