The decentralized cryptocurrency exchange Uniswap has finished integrating with the Binance-owned BNB chain.
After Uniswap’s formal announcement on Twitter on Wednesday, crypto aficionados all around the globe learned about this growth.
A request to implement Uniswap version 3 (V3) on the BNB chain, Binance’s smart contract blockchain, was made in February by 0x Plasma Labs. As a consequence, the proposal from the government was adopted by more than 55 million Uniswap shareholders.
Before making this announcement, Uniswap wanted to broaden its user base and get support for decentralized financing (DeFi), thus in February, more than 66% of votes were in favor of the implementation.
The multichain bridge Wormhole was previously accepted as Uniswap’s official bridge to the BNB chain in an early temperature check vote.
According to BNB Chain’s director of growth Alvin Kan, “BNB Chain is a launchpad for all things Web3” because of its “thriving and committed community, scalability, and accessibility.”
This BNB Chain connection will force Uniswap to tap into a larger pool of cryptocurrency users, lower transaction costs, and also break into a brand-new geographic market.
Users of Uniswap may now carry out any transaction quickly, cheaply, and effortlessly while trading and swapping over the network. BNB Chain will also enhance Uniswap’s user connection with Web3 and its customers’ liquidity.
As a consequence of integration, Uniswap has the chance to establish a new source of liquidity with the substantial Defi developers community on BNB Chain in order to raise awareness and acceptance among millions of new investors and customers.
Compiled by Coinbold