A16z, a venture capital company investing in crypto and web3 startups, voted against the deployment of Uniswap v3 on the BNB Smart Chain (BSC).
A16z Rejects Launching Uniswap V3 On BSC
BNB Smart Chain is an intelligent outsourcing platform developed by Binance, a leading cryptocurrency exchange for trading volumes and customer numbers. BSC is in competition with Ethereum, the first network in which Uniswap launched the first decentralised automated market operator (AMM) at the end of 2018.
A16z leads the line, making it impossible for Uniswap v3 to enter service on BSC. The venture capital has voted with all their 15 million UNI, the governance token of the exchange.
Sources indicate that the crypto venture capital which is part of Andreessen Horowitz and has invested in Coinbase, OpenSea, Optimism, and other dApps and projects, couldn’t participate in the temperature check earlier on because of the custodial setup of their tokens.
Uniswap is the world’s largest DEX by total value locked (TVL). According to DeFiLlama, the DeFi protocol currently manages $3.96 billion and has deployed in several EVM-compatible blockchains, including Polygon. The exchange was also initiated on some Ethereum Layer 2 platforms, including optimism and arbitrum.
Most members of the uniswap community want dex to be released on the bsc before the end of its business source license (bsl) in early April 2023.
If Hayden Adam's protocol is to expand to bsc, he should use the vortex bridge. However, the main concern is the safety of crypto decks.
The vortex was hacked to the tune of $325 million in 2022 and reduced its maximum premium program from $10 million to $2.5 million. A16z is concerned about the security and decentralization of the Wormhole Bridge.
The DEX Should Be Proactive
OxPlasma Labs suggested extending DEX to BSC, the largest in the world. The control of the past temperature with 80% in favor of deployment, with only 20% against this motion.
Users are now voting on this proposal, and with only 3.26% of participants currently, most are in favour of launching uniswap on bsc.
Robert leshner, the founder of compound, which voted in favour of the idea with its 5.76 million units.
GFX Labs is included, who said it would reinforce DEX, prevent "another vampire attack", and reduce the chances of bifurcating Uniswap v3 when the commercial license expires at the beginning of April 2023. GFX Labs insists on "proactive" DEX.
GFX Labs voted in favor of @Uniswap proposal 31 to deploy @Uniswap V3 to BSC. With the bsl expiring on April 1, uniswap needs to be proactive in the prevention of another vampire attack. https://t.co/AbKaMrmXVv
— GFX Labs (@labsGFX) February 5, 2023