Li.Fi Urged Uniswap V3 To Not Launch On The BNB Chain with Only Bridge Provider
Key Points: Li.Fi has warned the Uniswap community not to deploy on BNB Chain with only one bridge provider.
Li.Fi asked Uniswap for priority in developing a method to evaluate cross-chain bridges, so that future Uniswap deployments would be made on additional chains with a variety of bridge providers.
If the idea is implemented, it may cause the Uniswap deployment process at the BNB Chain to change even further.
Cross-chain DEX aggregation protocol Li.Fi urged Uniswap not to deploy on BNB Chain using Wormhole as the only bridge provider. A governance post published by the project on February 6 stated that Li.Fi pleaded with Uniswap not to vote to approve deployment of Uniswap v3 to the BNB Chain. Li.Fi asked Uniswap for priority in developing a system to evaluate cross-chain bridges. This architecture and a variety bridge vendors would allow future Uniswap deployments to additional chains. LayerZero LayerZero, Celer and Axelar are all viable cross-chain governance solutions. They have gained a lot traction in terms both of volume at the liquidity level and dApp development at messaging layer. A protocol as large and complex as Uniswap shouldn’t rely on one cross-chain bridge. Li.Fi pointed this out:
“No single AMB has been tested enough to be considered a reliable and secure solution that a project this large can rely on.”
Li.Fi, an encrypted bridge aggregator, suggested that Uniswap develop a robust framework for evaluating bridges as a generic governance model. It could be promoted as an Ethereum-improved Protocol, setting the standard for all other blockchain applications that use bridge providers. The process has been through many hoops amid heated community debate. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comHaroldCoincu NewsTags: BNB ChainDexLi.FiUniswapUniswap V3Wormhole