Uniswap Begins Operations on the BNB Chain Network

Photo by Duncan Meyer on Unsplash

By extending its services to the BNB Chain, Uniswap will be able to provide its customer base with a network that charges cheaper costs for individual transactions.

It is possible that Uniswap has recently officially started on the BNB Chain network that Binance built as part of its ambitions to boost the availability and liquidity of its services for its users.

The favorable governance vote that occurred in February prompted the world’s largest DEX protocol to make this step.

In terms of trade volume, the protocol is the largest in the world. More than 55 million people who owned UNI tokens at the time voted in support of the governance proposal, which ultimately led to its approval.

The selection of a bridge option for the launch was another objective of the plan. On the other hand, Wormhole emerged victorious in the competition to become the protocol’s designated bridge to the BNB Chain.


Users will continue to receive Uniswap Protocol’s undivided attention

Uniswap will be able to provide its users with a network with transaction fees that are cheaper than those on Ethereum due to the company’s expansion to the BNB Chain. This paves the way for users to trade and exchange their tokens all across the network at much-reduced costs now that it is possible.

In response to a question about what BNB Chain contributes to the collaboration, the director of growth at BNB Chain, Alvin Kan, was quick to highlight the company’s dedicated community, scalability, and accessibility, in addition to a great number of other perks. Kan wrote the following in a statement part:

“It is a launchpad for anything web3, where protocols that are trying to flourish and reach greater audiences.”

Kan lauded the fact that Uniswap makes the most of every opportunity to demonstrate its dedication to its customers. It was written here:

We are thrilled to see the continuous commitment that Uniswap has made to giving value to its consumers and laying the foundations of decentralization.

It is also possible that it is important to state that back in February when 0x Plasma Labs made the governance plan, the objective was for Uniswap to be able to grab about fifty percent of PancakeSwap’s market share. This is something that may or may not be important to disclose.

At the moment, PancakeSwap is in charge of the position of the most important decentralized exchange on BNB Chain, with a total volume locked in of $2.5 billion.

But there’s a chance that will soon change. As a result of Uniswap’s launch on BNB Chain, the company is now in a prime position to seize an even larger portion of the specialized market for decentralized exchanges.

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