As of yesterday, Uniswap’s decentralised exchange is operational on the BNB Chain blockchain. The latter officially becomes the sixth network on which the DEX operates
Uniswap is now operating on the NBB Chain
At the end of January this year, a governance vote initiated by 0xPlasma Labs resulted in a favourable outcome to deploy Uniswap’s (UNI) decentralised exchange (DEX) on the BNB Chain blockchain. However, the investment fund Andreessen Horowitz (a16z) opposed this proposal, initiating a second vote which nevertheless reaffirmed the initial decision.
In a second step, the protocol’s governance also designated the Wormhole bridge to serve as a bridge between the different blockchains on which DEX is deployed.
As of yesterday, the protocol is operational on the network:
Uniswap is now live on @BNBCHAIN https://t.co/LWPd2TE1x4 pic.twitter.com/j6aJpoG87z
– BNB Chain (@BNBCHAIN) March 15, 2023
At the time of writing, Uniswap had a total locked value (TVL) of $4.26 million on the relevant blockchain, as well as volume of $1.16 million on the first day of operation.
Alvin Kan, director of growth at BNB Chain Innovation, believes the integration will be mutually beneficial to both parties:
“With BNB Chain’s thriving and dedicated community, scalability and accessibility, this is a launching pad for all things Web3, where protocols seeking to reach a wider audience can grow. We are delighted to see Uniswap’s continued commitment to bringing value to its users and building the future of decentralisation.”
The NBB Chain now becomes the sixth network to deploy on Uniswap.
Historically, PancakeSwap was considered the reference DEX on this blockchain, and now sees a serious competitor arrive. According to DefiLlama, the NBB Chain has a TVL of USD 2.48 billion, which gives the newcomer plenty of room to grow.
According to the BNB Chain press release, this launch could also enable Uniswap to welcome one to two million new users to its protocol.
