Home > NEWS > Uniswap DAO Approves Proposal For BNB Migration; What’s Next?

Uniswap DAO Approves Proposal For BNB Migration; What’s Next?

According to latest crypto news, the Uniswap DAO has finally completed the much-debated BNB Chain deployment vote for its V3 release.

Data encryption news reports:Uniswap's decentralized autonomous organization (DAO) recently implemented a final vote that will be used to deploy Uniswap v3 on the BNB chain. According to the portal, which surveys referendum figures, nearly 66 per cent of DAO delegates voted for the changes that took place on Friday.

Uniswap Dao to vote

Representatives who voted in favor of the resolution had a very large vote, such as Johnson Lashner, founder of Consensys, which developed and designed the ethernet software, and Johnson Lashner, the founder of the composite financial investment company. During this period, Andreessen Horowitz, a leading venture capital firm, voted no, and a total of 1500 votes were used in the process.

uniswap crypto news

The result of this vote led to a practical discussion of the governance process for deploying cross-chain applications. Many representatives, including those given to the bridge, indicated resistance to deployment of jumpers as the only option for "bridge service providers". Apply a professional technology called a wireless bridge service provider in the process of encouraging the transmission of encrypted tokens between the Internet. But they went on to call for a solution that is different from all special bridge solutions. Decker Horowitz believes that LayerZero enterprises are strongly supported by jumpers and regard them as the establishment and selection of market competition.

Read more information:Query the top ten Defi loan platforms in 2023

What's the next step for Uniswap?

After the vote is completed, the plasma laboratory will investigate the probability of deploying Uniswap version 3 on the BNB chain as soon as possible. This kind of implementation can also be carried out after a short waiting period in the whole process of regulation. According to the information provided by the Plasma Laboratory in the proposal, the goal of Uniswap may be to win half of the market share of PancakeSwp. PancakeSwp is one of the most critical decentralized exchanges in the BNB drive chain, and according to DeFiLlama, the site currently manages the use of $2.4 billion worth of TVL.

According to the data encryption information recently recommended by Uniswap, the urgent deployment on the BNB chain is a difficult problem that can not be ignored. This is mainly because the industry license of the v3 version of Uniswap will be officially terminated on April 1st. Because of the approval, other sites are not likely to introduce similar agreements.

UniSwp version 3 includes the creative idea of applying several pools to each pair of tokens, each deducting a different type of swap fee. In the past, each pair of distinctive tokens corresponds to a liquidity pool, and the default setting for all swaps costs 0.3% of the meaning of the swapped login password. Even if this strategy has been successful in the past, it is likely to be too low for pools that buy and sell volatile coins and too high for pools that buy and sell more stable digital currencies.

by wjb news
© 2023 WJB All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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