Decentralized Exchange – Uniswap, has completed its integration with the BNB chain, which is owned by the centralized cryptocurrency exchange Binance.
Crypto enthusiasts around the world got wind of this expansion after Uniswap’s official announcement via Twitter on Wednesday.
In February, 0x Plasma Labs submitted a proposal to deploy Uniswap version 3 (V3) to the BNB chain, Binance’s smart contract blockchain. As a result, over 55 million Uniswap shareholders successfully accepted the governence’s proposal.
Before this announcement, Uniswap needed to increase its reach to a wider range of users and acceptance of decentralized finance (DeFi), so in February, over 66% of votes favored the deployment.
Previously, in an early temperature check vote, the multichain bridge Wormhole was approved as Uniswap’s designated bridge to the BNB chain.
Alvin Kan, the head of Growth at BNB Chain, said, “With BNB Chain’s Thriving and dedicated community, scalability, and accessibility, it is a launchpad for all things Web3.”
This BNB Chain integration will push Uniswap to reach out wider number of crypto-users, reduce the transaction fees, and also to enter into the novel geographical market.
Now Uniswap users can easily make any transaction with high speed and along with low cost while trading and swapping around the network. Additionally, BNB Chain will improve Uniswap’s user connectivity with Web3 and the liquidity for its clients.
As a result of integration, Uniswap has the opportunity to enter into a new source of liquidity with BNB Chain’s large Defi developers community to increase awareness and adoption of millions of new consumers and investors.
Also Read: Apple Creates Obstacle In Launching Uniswap’s IOS Wallet App
