DeFi Protocol Uniswap Announces BNB-Chain Integration

Uniswap, the world’s largest decentralized exchange protocol by trading volume, built on the Ethereum Blockchain, has announced that it has officially launched the BNB Blockchain, a decentralized EVM-compatible smart contract chain founded by crypto exchange Binance.

Uniswap, the world’s largest decentralized exchange protocol by trading volume, built on the Ethereum Blockchain, has announced that it has officially launched the BNB Blockchain, a decentralized EVM-compatible smart contract chain founded by crypto exchange Binance. The move follows a successful governance proposal to deploy on the BNB Chain in February and sparked governance discussions to choose and implement a bridge solution for the deployment. With this novelty, Uniswap Protocol users will soon be able to take use of BNB chain with a lower transaction fee, compared to Ethereum, to trade and swap tokens across the network.

The Head of Business Development of Binance Alvin Kan said that With BNB Chain’s thriving and dedicated community, scalability, and accessibility, it is a launchpad for all things web3, where protocols looking to reach larger audiences could grow. He also added that he is pleased to see Uniswap’s ongoing commitment to providing value to its users and building for the future of decentralization. 

In February 0x Plasma Labs accepted a governance proposal for the deployment of Uniswap v3 on the BNB Chain, with more than 55 million UNI token holders voting in favor, and also has claimed that Uniswap may seek to capture up to 50% of PancakeSwap’s market share. While Uniswap’s deployment on the BNB Chain means it can take a larger share of the decentralized exchange niche, it also signals that they have taken an essential step towards increasing accessibility and liquidity for its users. 

In summary, with the launch of this innovation, it has been officially announced that Uniswap Protocol users will be able to use the BNB Chain to trade and exchange tokens across the network with lower transaction fees. The integration will also allow Uniswap to tap into a liquidity pool with BNB Chain’s DeFi developer community and increase awareness and acceptance among retail and institutional investors.

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