15 Mar 2023•
4 min read
Uniswap, the leading decentralized exchange on Ethereum, is expanding its reach to Binance’s BNB Chain after the Uniswap community voted to deploy Uniswap V3 on BNB Chain. We’re also excited to announce, that in a separate vote they chose to use Wormhole as the bridge for their cross-chain governance needs.
This will eventually enable Uniswap V3 users on the BNB Chain to participate in the Uniswap DAO's Ethereum-based governance process.
In February, a governance proposal by 0x Plasma Labs to deploy Uniswap v3 on BNB Chain passed with over 55 million UNI token holders voting in favor. Prior to this decision, the Uniswap community voted 62% in favor of Wormhole as the protocol's designated bridge to BNB Chain in a temperature check vote.
Choosing to go xChain with Wormhole is a significant step for the Uniswap protocol, its users, and the entire DeFi ecosystem. It’s also an essential step towards creating an xChain future that allows projects and communities to expand their reach across multiple chains.
Within this blog post, we’ll discuss the Uniswap V3 BNB Chain Deployment details and how Wormhole enables projects to go xChain.
Uniswap V3 is the latest version of the Uniswap protocol, which introduces new features such as concentrated liquidity and multiple fee tiers.
Deploying Uniswap V3 on BNB Chain offers several significant advantages for Uniswap, including user growth and access to new geographical markets. For Uniswap V3 users, this move allows for a better experience in terms of speed and cost and more efficient trading options.
It will also enable Uniswap v3 users on BNB Chain to participate in the Uniswap DAO's Ethereum-based governance process.
Deployment is expected to take place in the coming weeks.
The deployment of Uniswap V3 on BNB Chain is a significant win for the Uniswap protocol and the DeFi ecosystem as a whole. It is also an essential step towards a multi-chain future that allows projects and communities to expand their reach across multiple chains.
And Wormhole is honored by the trust the Uniswap community has shown for the protocol and we are incredibly excited to provide Uniswap with the means to access BNB Chain.
Wormhole is an interoperability protocol that allows projects to build on top of its generic message-passing layer, expanding their reach across multiple chains. It currently supports over 20 chains on six runtimes and is open for anyone to integrate with and build upon.
Wormhole is designed to be developer-friendly, easy to integrate with, and secure. Plus, it enables projects to deploy their smart contracts on multiple chains, synchronize data across chains, and transfer assets seamlessly between chains. Wormhole also supports cross-chain communication, allowing projects to interact with each other across different chains.
Wormhole has already enabled dozens of projects to go xChain, including PancakeSwap, SushiSwap, and Aave. With the deployment of Uniswap V3 on BNB Chain, Wormhole is once again proving its value as the canonical bridge for deploying decentralized finance projects on multiple chains.
Wormhole is open source from the start. Dive into our docs and begin developing on the cutting-edge of cross-chain: Start right here.
If you’re new to Wormhole, here’s what you need to know:
Wormhole is an interoperability protocol that allows projects to build on top of its generic message-passing layer. It connects to multiple chains, including Ethereum, Solana, BNB Chain, Polygon, Avalanche, Algorand, Fantom, Karura, Celo, Acala, Aptos and Arbitrum. Wormhole does this by emitting messages from one chain to another, which are observed and verified by a Guardian network of nodes. After verification, this message is submitted to the target chain for processing. This simple message-passing primitive enables xChain functionality. Users interact with xDapps (xChain decentralized applications) to transfer xAssets (cross-chain assets) between networks or access their xData (xChain data) to provide them services on their current network.
⚬ The protocol’s total volume stands at over $35B.
⚬ Hundreds of millions of messages have successfully been transmitted.
⚬ Currently, millions of messages are submitted each day.
⚬ More than 60 protocols currently build on top of Wormhole’s generic message-passing layer. See who they are.
Applications built with Wormhole allow users to send assets to and from any of the 20+ supported chains without double-wrapping the asset. It enables seamless access to each network’s vibrant DeFi and NFT ecosystems!
If you have questions, need support, or simply want to connect, join the Wormhole community and keep up-to-date with our upcoming announcements. We’re always happy to hear your feedback. Join our Discord, and drop us a comment!
Here’s your chance to get in on this one.
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