Uniswap community supported protocol deployment on BNB Chain

80% of UNI holders supported the implementation of Uniswap V3 on the BNB Chain initiated by Plasms Labs. Potential Uniswap TVL growth is $1.18 billion.

Uniswap, UNI, BNB chain, Plasma Labs, Uniswap TVL

Written by

William Miller
Published on

January 23, 2023

Key points:

  • Owners of 20 million UNI - 80% of participants - supported deploying the third version of the decentralized exchange protocol on the BNB Chain network.
  • Potential TVL growth for Uniswap as a result of the Plasma Labs integration was estimated at $1.18 billion with up to 2 million new users added.
  • The TVL of the decentralized exchange is $3.77 billion, of which $2.67 billion is in Uniswap V3.
  • The majority of assets are located on the Ethereum network and its secondary protocols - Polygon, Arbitrum, and Optimism - account for over 95% of the network's activity.

Uniswap users have voted to implement version 3 of the decentralized exchange protocol on the BNB Chain network.

Plasma Labs Announcement on Implementing U Niswap on Bnb Chain

Owners of 20 million UNI, or 80% of participants, endorsed the proposal from Plasma Labs during the "temperature check".

In the near future, the project is expected to submit a proposal for management that will be voted on by the community formally.

Among the reasons for adding support for Uniswap in the BNB Chain, the Plasma Labs team mentioned:

  • The increasing number of users on the network will create a new market.
  • High transaction volumes and low costs;
  • The benefits of working together more closely with Binance and other ecosystem projects.

The potential increase in TVL for Uniswap as a result of the integration of Plasma Labs was estimated at $1.18 billion, with as many as 2 million new users being added.

As of this article, the total value of the decentralized exchange is $3.77 billion, of which $2.67 billion is in Uniswap V3 (DeFi Llama). The majority of assets are located on the Ethereum network and its secondary protocols - Polygon, Arbitrum, and Optimism - account for over 95% of the network's activity.

Uniswap Tvl Total Value LockedTotal Value Locked on Uniswap. Source - DeFi Lama

In March 2022, the community endorsed the implementation of a third version of the protocol on the Celo blockchain. The value of blockchain-owning assets on the network is $1.31 million.

To underscore, in October, users overwhelmingly favored the integration of Uniswap V3 with Matter Labs's second-tier zkSync solution.

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