Referendum on Uniswap Ends with a Majority Vote
The referendum on the Uniswap DAO is over, and the results are in. A astounding 66% of the DAO delegates voted in favor of the modification that was implemented on Friday, according to the site that tallied the results.
Important Players Comment on the Vote
The motion received support from some of the most important participants in the market, including Robert Leshner, the originator of Compound Finance, and ConsenSys, the Ethereum software developer. Andreessen Horowitz, a well-known venture capital company, cast 15 million votes against the idea, though.
The deployment of Wormhole as the only choice for the bridge provider went on despite criticism from several delegates, including bridge providers. These delegates demanded an independent resolution as opposed to one that was connected to a particular bridge. However, Andreessen Horowitz supported LayerZero over Wormhole as the preferred option.
Future of Uniswap: The Implementation of BNB Chain
Following the vote, Plasma Labs will consider whether to launch Uniswap version 3 on the BNB Chain as soon as practicable. The goal of Uniswap, as stated in Plasma Labs’ proposal, is to take up to 50% of PancakeSwap’s market share on the BNB Chain. According to DeFiLlama, one of the top decentralized exchanges, PancakeSwap, has a TVL of $2.4 billion.
It is impossible to ignore the planned deployment on the BNB Chain as a key development in the crypto world. Other platforms won’t be able to develop equivalent protocols because of license limitations.
Uniswap Version 3: Updates and New Features
The novel idea of numerous pools for every pair of tokens, each with a distinct exchange cost, is presented in Uniswap Version 3. Previously, every distinct pair of tokens had a single liquidity pool assigned to it, and all swaps came with a default fee of 0.3% of the value of the cryptocurrencies being traded. The cost may be set too high for pools trading in stable cryptocurrencies, or it may be set too low for pools dealing in extremely volatile coins, despite the fact that this method has proven effective in the past.