On April 1, Business Source License (BSL) for Uniswap v3 protocol expired, allowing developers to deploy their own decentralized exchange (DEX), according to the protocol’s documentation. With this expiration, developers can now fork the code and use it as an open source. To do so, they must acquire an Additional Use Grant, a production exemption that accommodates both the needs of open-source and commercial developers. The BSL was released in 2021 to protect the author’s right to profit from their creations, while a new General Public License applies to the protocol now. This expiration is an important event for the DeFi ecosystem, as it opens up many possibilities for developers.
Uniswap is the most prominent decentralized exchange and automated market maker (AMM) in the DeFi space, offering an accessible platform for token creators, traders and liquidity providers to swap tokens. Its associated UNI token has become a popular way for investors to gain exposure to the DeFi market. In May 2021, shortly after its launch, Unisawp v3 made history by surpassing Bitcoin in terms of daily fee generation.
Data from Cryptofees revealed that Uniswap v3 was generating $4.5 million in daily fees, compared to the $3.7 million generated by Bitcoin at the same time. This marked a major milestone for Uniswap, and cemented its position as a leader in the DeFi market.
Earlier this month, Uniswap officially launched on Binance’s smart contract blockchain, the BNB Chain, after over 55 million UNI token holders voted in favor of a governance proposal by 0x Plasma Labs to deploy the protocol on the network. This integration has provided Uniswap users with access to an extensive ecosystem for trading and swapping tokens, as well as tapping into a pool of liquidity from the BNB Chain’s DeFi developer community. As a result, Uniswap is now in a better position to provide its users with more options and greater liquidity.
