On Wednesday, 15 March 2023, decentralized exchange Uniswap said that it has expanded to the BNB Chain. Uniswap said that BNB is one of the world’s most active blockchains via daily volume. Alvin Kan, director of Growth at BNB Chain said that , “ with BNB chain’s thriving and dedicated community, scalability, and accessibility, it is a launchpad for all things Web3,”. He also said that in a statement to coindesk, “Protocols looking to reach larger audiences can grow.” More than 55 million UNI tokens have passed the voting in favor of a controversial governance proposal of OX Plasma labs to deploy Uniswap version 3 on the BNB chain. BNB chain in the preliminary vote has chosen the multi-chain bridge wormhole as Uniswap designated bridge.
Several significant advantages, including user growth, lower fees, and the ability to tap into new geographical markets, have been proposed to the BNB chain. With more efficient and cost-effective trading options the move has provided the potential to users. This ultimately improves the value proposition for BNB Chain and prominent ecosystem tokens, such as BNB Coin. Uniswap Protocol users will be able to leverage BNB Chain’s high-speed and low transaction fees to trade and swap tokens across the network as has been implied by the above expansion. Tapping into a new pool of liquidity by Uniswap with BNB Chain’s large decentralized finance developer community, and increased awareness and adoption amongst retail and institutional investors, with a potential of 1 million to 2 million new users and Protocol stakeholders has been allowed by the integration.