- Crypto bridge Wormhole has won the governance vote to become Uniswap’s designated bridge to BNB Chain.
- Wormhole beat fellow bridges Layerzero and deBridge to become the DEX’s bridge provider.
- Community members aim to use BNB Chain’s strong governance model and active community to develop Uniswap V3.
- Wormhole will have to pass a final governance vote to become the DEX’s official bridge to BNB Chain.
UniswapDAO has chosen the popular cross-chain bridge Wormhole as its official bridge to BNB Chain. Wormhole will be used by Uniswap V3 for cross-chain governance messaging between Ethereum and BNB Chain. The crypto bridge, which notably suffered a $325 million attack in February 2022, came out as the top choice for the decentralized exchange (DEX) after it won the governance vote.
Wormhole beat LayerZero and deBridge to become Uniswap’s official bridge
According to the proposal posted on UniswapDAO’s governance forum last month, there were five initial contenders for the cross-chain to the BNB Chain. These were HyperLoop (0xPlasma), LayerZero, Celer, and Stargate. Wormhole and deBridge were added later when they expressed interest in becoming the provider for the BNB deployment.
For cross-chain deployment proposals, we believe it is most important to optimize for protocol security — specifically, for community members to be able to make informed decisions based on all available information on risks to bridge security.”
The voting snapshot shows that Wormhole received more than 62% of the votes. LayerZero was the second most popular choice with over 37% of the votes. The rest of the contenders including deBridge and Celer accumulated negligible votes. Wormhole will now have to pass a final vote to secure its status as the official bridge to BNB Chain.
The DEX aims to deploy on other chains before its BUSL license expires in April this year. Community members highlighted several other reasons to make the case for Uniswap V3’s deployment on BNB Chain. Among these were BNB Chain’s large and growing user base, an untapped market for the DEX to acquire new users. According to one member, “BNB Chain’s strong governance model and active community could provide valuable support and feedback for the development of Uniswap v3.”
Source : Ethereum World News