![Exploring how UNI v3 deployment could impact Binance Coin [BNB]](https://i.headtopics.com/images/2023/2/10/cryptoamb/exploring-how-uni-v3-deployment-could-impact-binan-exploring-how-uni-v3-deployment-could-impact-binan-1623857532258115586.webp)
Exploring how UNI v3 deployment could impact BinanceCoin [BNB]
, acting on behalf of the Uniswap Community, presented a governance proposal. It was to have the most recent Uniswap version deployed on the BNB Chain.On 8 February, 7.03 million votes were cast in favor of the proposal. ConsenSys, the creator of the popular MetaMask digital wallet, led this.
ConsenSys has a stake in the underlying UNI tokens, which are now valued at approximately $47.5 million, and these votes are denominated in UNI. a16z, which reportedly controls 55 millionThe deployment’s reliance on the Wormhole bridge was cited as the reason for the rejection, with LayerZero’s viability as an interoperability protocol being advocated. As of this writing, 77.56% of respondents favored the idea, while 22.07% were opposed.
The BNB chain’s record transaction volume was over $16,000,000 in November of 2021. However, there has been a dramatic decrease; the most recent count was a little over 3 million as of this writing. The figure may rise after UNI’s rollout. is another measure of BNB that should improve with the UNI rollout. Its TVL was $5 billion as of this writing, a significant decrease from its peak.
UNI has the potential to make significant contributions to BNB due to its status as one of the largest Decentralized Finance protocols.Given the current state of the market, Binance’s [BNB] price activity has not been as thrilling as one may have anticipated.However, the Relative Strength Index showed that it was still moving in a bullish direction. The RSI line was visible at 56, with the bullish trend diminishing at this point.
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