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By expanding to the BNB Chain, Uniswap will now be able to offer its users a network with lower transaction fees.
Uniswap may have just officially launched on the Binance-created BNB Chain network as part of its plans to increase accessibility and liquidity for its users. The move by the world’s largest decentralized exchange protocol in terms of trade volume follows after the successful governance vote that took place in February. At the time, the governance proposal passed with more than 55 million UNI token holders voting in favor. The proposal also sought to choose a bridge solution for the launch. However, votes turned out in favor of Wormhole as the protocol’s designated bridge to the BNB Chain.
Uniswap Protocol Continues to Be Dedicated to Users
By expanding to the BNB Chain, Uniswap will now be able to offer its users a network with lower transaction fees than on Ethereum. This means that users may now trade and swap their tokens across the network, and at significantly lower costs.
About what BNB Chain brings onboard to the partnership, the director of growth at BNB Chain, Alvin Kan was quick to point out the firm’s dedicated community, scalability, and accessibility among many other benefits. In a statement, Kan wrote in part:
“It is a launchpad for all things web3, where protocols looking to reach larger audiences can grow.”
Kan also praised how Uniswap uses every opportunity to show its commitment to its users. He wrote:
“We are delighted to see Uniswap’s continued commitment to delivering value to its users and building for the future of decentralization.”
It might also be worth mentioning that back in February when 0x Plasma Labs submitted the governance proposal, the idea was for Uniswap to be able to capture about 50% of PancakeSwap’s market share. Presently, PancakeSwap holds the spot as the leading decentralized exchange on BNB Chain with $2.5 billion in total volume locked (TVL). But that might be about to change. By launching on BNB Chain, Uniswap is now in a pole position to capture even a larger share of the decentralized exchange niche.