Uniswap’s proposal to deploy its V3 on the Binance Smart Chain (BSC) passed a community vote with 80% in favor. The deployment on the BSC would provide a potential new market for Uniswap’s V3, as well as the advantages of high transaction speeds and low fees.

However, this move could pose a significant threat to PancakeSwap’s dominance on the Binance Smart Chain, as it currently holds a 49.39% share of total value locked on the chain.

Uniswap V3, launched a year after PancakeSwap, had a total value locked of $2.71 billion at the time of the article.

The V3 deployment brought several improvements and increased adoption among decentralized finance users, causing Uniswap to become the most active smart contract on the Ethereum network last year.