UniSwap (UNI) Officially Expands to BNB Chain: Will PancakeSwap (CAKE) Dominate?

Uniswap, the decentralized exchange protocol that dominates the DeFi space, has now announced that it has come to life on BNB Chain.

UniSwap Officially Deployed to BNB Chain

This move comes after the protocol’s proposal to deploy Uniswap v3 on BNB Chain was approved with an overwhelming 66% vote.

This integration offers many important advantages such as user growth, lower fees and opening up to new geographic markets.

UNI users can now trade and exchange tokens across the network, taking advantage of BNB Chain’s high speed and low transaction fees. This move is expected to provide users with more efficient and cost-effective trading options.

BNB Chain Innovation Growth Director Alvin Kan welcomed the news of the launch, saying:

“We are delighted to see Uniswap remain committed to delivering value to its users and building for the future of decentralization.”

A management proposal by 0x Plasma Labs to deploy Uniswap v3 on the BNB Chain was adopted in February, with more than 55 million UNI token holders voting in favor. 0x Plasma Labs stated at the time that UNI could capture up to 50% of PancakeSwap’s market share.

As it is known, currently, PancakeSwap dominates the decentralized financial market on BNB Chain to a significant extent. With the latest development, we see that one of the most important members of the Ethereum ecosystem has expanded to BNB Chain.

Prior to this, Wormhole, a multi-chain bridge, was selected in the pre-vote as Uniswap’s dedicated bridge to BNB Chain.

*Not investment advice.