0xPlasma Labs receives initial approval to deploy Uniswap v3 to BNB Chain

0xPlasma Labs said that Uniswap could benefit an additional $1 billion of TVL and 1-2 million new users from BNB Chain.

1 min read

Updated: January 23, 2023 at 1:00 pm

Cover art/illustration via CryptoSlate

0xPlasma Labs received initial governance approval to deploy the Uniswap V3 protocol to the BNB proof-of-stake (PoS) Chain.

Uniswap deployment

0xPlasma Labs initiated a proposal on Dec. 12, 2022, seeking approval to deploy the Uniswap v3 to BNB Chain.

As per the proposal, Uniswap could benefit from an additional $1 billion of TVL and 1-2 million new users from BNB Chain.

Following due consideration, the Uniswap governance community has voted to support the temperature check proposal.

Overwhelming vote turnout

Over 80% of participants committed about 20 million UNI tokens to support the motion, while roughly 19.72% voted against it, according to the voting result.

Moving forward, 0xPlasma Labs will submit the proposal for final governance approval before the Uniswap v3 protocol can be deployed to the BNB chain.

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Author: Christian Nwobodo

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