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