Core DAO set to support bridged assets

Super Heavyweight DEX Coming to BNB Chain

Let the Battle of the DEXes continue BNB chain begin! The Uniswap community has officially approved a proposal to deploy Uniswap v3 on the 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 the voting ended at At 13:53 UTC on February 10, more than 66% of the $UNI ballots were cast in favor of the 0xPlasma Labs proposal.

As is typical of political processes, the sausage production of the Uniswap DAO was not entirely pretty, as the choice of Wormhole as the cross-chain bridge between Ethereum and the BNB Chain prompted major $UNI holder a16z (a supporter of competing bridge LayerZero ) to dump all his 15 million UNI tokens against the proposal.

The introduction of greater influence from a special interest group raised eyebrows and hackles among the decentralization-loving crypto crowd.

But in the end, the size of the a16z was not size enough, even though the votes accounted for about half of the “No” to the proposal.

Uniswap Supremacy

The introduction of Uniswap v3 to BNB Chain is obviously a big deal. As BSC News noted in an earlier story, fueled by its greater capital efficiency, DEX almost immediately rose to a dominant position when it expanded to Polygon, basically wiping out the market share of the original 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 trading 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, yes, based on a fork of Uniswap.)

Battle of the DEXes on the BNB Chain

Does Uniswap’s entry spell trouble for PancakeSwap? Will the chefs prevail, as they have introduced major upgrades to the DEX and expanded 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 it 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 crew of up-and-coming challengers including Trader Joe’s, Wombat Exchange, Baby Doge Swap and Thena, or BNB Chain veterans like BiSwap and DODO.

Regardless of which protocols emerge victorious from the Battle of the DEXes, the increased competition is a win for DeFi users and the 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 with open source code on the Ethereum blockchain and uses the AMM model to facilitate Ethereum ERC-20 token exchange. Uniswap

Much of the progress made in Ethereum-based DeFi expansion can be attributed to Uniswap, as it provided the market-making tool for Web3 apps to operate in a decentralized environment. The platform consistently records daily trading volumes in excess of half a billion dollars and has a total volume locked (TVL) of more than $3 billion. The platform has traded over $1 trillion since its launch via over 129 million transactions.

Where to find Uniswap:

Website | Twitter | Discord |

What is PancakeSwap:

PancakeSwap is a decentralized exchange (DEX) built on the BNB Chain. It offers users various features such as liquidity pool, exchange, yield farming, syrup pool, Automated Market MakerInitial farm offer (IFO), NFT profile system and many others.

In addition, the protocol helps users make the most of 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