0xPlasma Labs receives approval

0xPlasma Labs has received initial administrative approval to deploy the Uniswap V3 protocol on the BNB Chain PoS blockchain.

0xPlasma Labs issued a proposal on December 12, 2022, seeking approval to deploy Uniswap v3 on BNB Chain.

According to the proposal, Uniswap could benefit from an additional $1 billion in TVL and 1-2 million new users from BNB Chain.

After careful consideration, the Uniswap governance community voted in favor of the proposal.

More than 80% of participants pledged about 20 million UNI to support the implementation, while about 19.72% voted against it, according to the voting results.

Partial results of voting to deploy Uniswap on BNB Chain. Source snapshot.org
Partial results of voting to deploy Uniswap on BNB Chain. Source: snapshot.org

Going forward, 0xPlasma Labs will submit a proposal for final governance approval before the Uniswap v3 protocol can be deployed on BNB Chain.

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