Defi News- Almost two-thirds of DAO delegates approved the Friday move.
- BNB Chain is a popular blockchain established by crypto exchange titan Binance.
To implement the planned deployment of Uniswap v3 on the BNB Chain, the Uniswap Decentralized Autonomous Organization (DAO) has just completed the final vote that will be employed. Almost two-thirds of DAO delegates approved the Friday move, as reported by the platform that collected the votes.
A follow-up vote held between February 2nd and 10th confirmed LayerZero rival Wormhole as Uniswap’s partner. Furthermore, voting in support of the proposal included delegates with substantial sway, such as the heads of Ethereum’s core development team, ConsenSys, and Compound Finance’s Robert Leshner. Andreessen Horowitz, a prominent venture capital company, used 15 million votes to defeat the measure at the time.
Deployment on BNB Chain
A significant discussion on the governance mechanism for implementing cross-chain applications has been sparked as a result of this decision. Many players, including bridge providers, voiced harsh criticism in response to the deployment of Wormhole as the sole “bridge provider” choice available.
To move cryptographic tokens across compatible networks, a method called a bridge provider is used. However, they demanded an alternative that wasn’t tied to any one bridge. Similarly, Andreessen Horowitz argued that LayerZero should triumph over Wormhole.
Moreover, PancakeSwap, the biggest DEX on BNB Chain at the moment, will be Uniswap’s main competitor when it launches. BNB Chain is a popular blockchain established by crypto exchange titan Binance.
Before April 1, when the business license expiration might allow imitation platforms to replicate Uniswap’s v3 software and construct rivals, Uniswap is scrambling to deploy its new version (v)3 platform onto BNB Chain.
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Source: https://thenewscrypto.com/uniswap-dao-votes-in-favor-of-bnb-chain-deployment/