


The approval of the proposal to deploy Uniswap v3 on BNB Chain sets up a major showdown with PancakeSwap and an array of competing DEXes.
Super Heavyweight DEX Coming to BNB Chain
Let the Battle of the DEXes on BNB Chain begin! The Uniswap community has officially approved a proposal to deploy Uniswap v3 on BNB Chain, setting up a massive showdown with the chain’s longtime dominant Decentralized Exchange (DEX) PancakeSwap as well as other competitors, new and old.

When voting ended at 13:53 UTC Feb. 10, more than 66% of $UNI ballots were cast in favor of the proposal from 0xPlasma Labs.
As is typical for political processes, the sausage-making by the Uniswap DAO wasn’t entirely pretty, as the selection of Wormhole as the cross-chain bridge between Ethereum and BNB Chain goaded major $UNI holder a16z (a backer of competing bridge LayerZero) into casting all of its 15 million UNI tokens against the proposal.
The introduction of outsize influence by a special interest group raised eyebrows and hackles among the decentralization-loving crypto crowd.
But in the end, a16z’s size was not size enough, although its votes accounted for about half of the “Nays” to the proposal.
Uniswap Supremacy
The introduction of Uniswap v3 to BNB Chain is obviously a huge deal. As BSC News noted in a previous story, powered by its greater capital efficiency, the DEX almost instantly rose to a dominant position when it expanded to Polygon, basically wiping out the market share of native protocol Quickswap (like PancakeSwap, based on a fork of an earlier version of Uniswap).
In fact, on all five chains where Uniswap v3 has been deployed -- Ethereum, Polygon, Optimism, Arbitrum, and Celo -- it is the dominant DEX on that chain in terms of trade volume, according to DefiLlama.
(Most recently, Uniswap v3 took the top spot on Celo in terms of 7-day trading volume, surpassing Ubeswap, which is, yep, based on a fork of Uniswap.)
Battle of the DEXes on BNB Chain
Does Uniswap’s entrance spell trouble for PancakeSwap? Will the chefs prevail, as they’ve been introducing major upgrades to the DEX and expanding to other chains themselves, such as Ethereum and Aptos?
Even if Uniswap v3 is able to provide more-efficient trades to users compared to PancakeSwap, will that matter to users on a blockchain with such low transaction costs that gas fees are mostly an afterthought?
And of course, it wouldn’t be wise to sleep on the cast of up-and-coming challengers, including Trader Joe, Wombat Exchange, Baby Doge Swap, and Thena, or BNB Chain veterans like BiSwap and DODO.
No matter which protocols emerge victorious from the Battle of the DEXes, the heightened competition is a win for DeFi users and BNB Chain itself.
What is Uniswap:
Uniswap was launched in November 2018 and has grown to become the largest decentralized exchange in its category. It was built open-source on the Ethereum blockchain and uses the AMM model to facilitate Ethereum ERC-20 token swaps. Uniswap
Much of the progress made in Ethereum-based DeFi expansion is attributable to Uniswap as it provided the market-making utility for Web3 apps to function in a decentralized environment. The platform consistently records daily trade volumes of over half a billion dollars and has a total volume locked (TVL) of more than $3 billion. The platform has traded over $1 trillion since it launched via over 129 million transactions.
Where to find Uniswap:
What is PancakeSwap:
PancakeSwap is a Decentralized Exchange (DEX) built on BNB Chain. It offers users various features such as Liquidity Pools, Swapping, Yield Farming, Syrup Pools, Automated Market Maker, Initial Farm Offering (IFO), NFT profile system, and many others.
In addition, the protocol helps users make the most out of their crypto assets by trading, earning through yield farming, and winning via lottery, prediction, and NFT collectibles. With the highest trading volumes in the market, PancakeSwap is the leading DEX on the BNB Chain.
Where to find PancakeSwap:
Website | Twitter | Medium | GitHub
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News


Swift and Chainlink Trials Pave the Way for the $10 Trillion Crypto Market

With the goal of expanding the crypto market from $1 trillion to $10 trillion, this partnership aims to seamlessly connect financial institutions' systems with various blockchain networks using Chainlink's Cross-Chain Interoperability Protocol (CCIP).
Chainlink and Swift Envision Blockchain Interoperability for Financial Institutions
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) has partnered with Chainlink to explore the integration of blockchain networks into the financial industry. The collaboration aims to leverage Chainlink's Cross-Chain Interoperability Protocol (CCIP) to connect financial institutions' systems with various blockchain networks seamlessly.
We’re collaborating with our community to test how institutions can use their #Swift connection to seamlessly interoperate with the many #blockchain networks emerging around the world.
— Swift (@swiftcommunity) June 6, 2023
Building on successful trials in 2022, our new experiments aim to show how the Swift… pic.twitter.com/izS8HDNnj8
Several major financial institutions, including ANZ, BNP Paribas, Citi, and Lloyds Banking Group, will participate in trials to test the transfer of tokenized value over public and private blockchain networks.
During the trials, SWIFT's infrastructure will demonstrate how it facilitates interoperability by allowing tokenized assets to be transferred within public blockchain wallets, between public and permissioned blockchains, and from Ethereum to other public blockchains. Chainlink will act as an enterprise abstraction layer, connecting the SWIFT network to the Ethereum Sepolia network, while Chainlink's Cross-Chain Interoperability Protocol ensures interoperability between source and destination blockchains.
“Having a single interface for accessing the various blockchains that banks will have to transact on is both more secure and more efficient for their interaction with this new way of transacting among themselves and their clients. The connectivity between banks and blockchains created by CCIP can also enable the growth of DeFi, as banks will find it increasingly easy to interact with public blockchains and move value to and from them using their existing systems,” Sergey Nazarov, Co-Founder of Chainlink, told BSC News.
Connecting Banks and Blockchains
By successfully integrating major banks and clearing and settlement systems into web3, the collaboration aims to expand the crypto market from its current valuation of $1 trillion to $10 trillion.
“If even a small portion of the quadrillions of dollars in value flowing through the Swift network and its over 11,000 member banks makes its way onto blockchains, the entire blockchain industry could grow multiple times larger very quickly,” stated Nazarov.
As part of this collaboration, Swift and Chainlink will build upon previous SWIFT trials that were conducted in 2022, focusing on incorporating digital currencies and tokenized assets into the traditional financial ecosystem. The new experiments will address technical, operational, and regulatory challenges associated with operating in a blockchain environment., such as confidentiality and privacy of data, liability, and recourse when transacting with public blockchains.
SWIFT aims to establish an interoperable system that connects different blockchain networks, enabling financial institutions to seamlessly interact with multiple blockchain-based networks similar to traditional asset trading. The partnership recognizes the impracticality of building new infrastructure from scratch and instead seeks to help institutions leverage their existing infrastructure securely and compliantly.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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