Uniswap: towards a multibridge solution for its deployment on the BNB Chain

Uniswap: towards a multibridge solution for its deployment on the BNB Chain

Bridge debates continue on Uniswap – Uniswap is the leading decentralized exchange platform. This was one of the first to use liquidity pools and contribute to the development of Challenge. Now, Uniswap is considering a rollout on the BNB Chain.


Uniswap on the BNB Chain

In mid-January, the co-founder of Plasma Labs, came up with the idea of ​​a deployment of the Uniswap protocol on the BNB Chain.

Quickly, the community seems conquered by the proposal, and voted overwhelmingly in favor in a preliminary vote. Indeed, the BNB Chain is the ground of a flourishing activity. This could allow Uniswap toopen up to other markets.

However, deploying Uniswap on the BNB Chain requires the use of a cross-chain bridge. Indeed, this bridge is necessary to carry the governance decisions on the different instances of the protocol.

After debate, a second preliminary vote was conducted to define which bridge will be used. Finally, the result designated the Wormhole Bridge.

Thus, once the deployment proposal was accepted and the bridge defined, it was able to pass to a final vote via the governance module of the protocol.

On the occasion of this vote, the investment fund a16z used 15 million UNI tokens in his possession to vote against the proposal. Indeed, a16z criticizes too hasty decision-making regarding the bridge to use.

At the same time, it is possible that the a16z decision is also due to the fund’s massive investments in another competing bridge solution, namely LayerZero. Thus, many observers have accused the fund of trying to promote their investment.

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Towards a multibridge solution

Whether there is a conflict of interest or not, the point raised by a16z is no less interesting. Indeed, the fund asks the governance to create a working group to identify the best solution bridge to use.

Moreover, a16z does not seem to be the only entity to think this. Thus, on February 6, Phillip Zentnerthe CEO of the LIFI project took part in the debate by proposing to use several different bridges.

“We strongly recommend that Uniswap not select a single bridge provider for its deployment on the BNB Chain. »

Thus, like a16z, Zentner invites the Uniswap Foundation to bring together a team of researchers whose mission will be to study the different bridge solutions.

Indeed, this one takes the opportunity to recall the failures encountered by many cross-chain bridges last year.

“Let’s not forget that two major bridges have been operated in the last twelve months (Nomad and Wormhole). For its part, LayerZero has also been criticized recently for its security model. »

As a result, Zentner militates for a more agnostic approachwhere multiple bridges would be used in parallel.

“Our conclusion is simple: no bridge has been tested enough to be considered a robust and secure solution that a project the size of Uniswap can rely on solely at this stage. »

Zentner thus offers the creation of a standardwhich would allow Uniswap to connect to multiple bridges, to ensure the solution is future-proof and scalable.

When deployed on the BNB Chain, the Uniswap protocol will become a strong competitor for the leader PancakeSwap. For its part, PancakeSwap is also considering expanding to other blockchains. Indeed, last October, Pancakeswap has unveiled its deployment plans on the Aptos blockchain.

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