Uniswap v3 protocol's BSL licence expires, allowing for code forking and creation of new DEXs

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According to the protocol’s documentation, the Business Source License (BSL) of Uniswap v3 has expired on April 1. This has been eagerly awaited by the DeFi community as it now allows developers to fork the Uniswap v3 protocol and create their own decentralised exchanges (DEX).

The Business Source License (BSL) used by Uniswap v3 protocol is only valid for a limited period before it becomes fully open source. This is done to protect the rights of the creator to earn profit from their work. 

In 2021, Uniswap v3's licence was released for a period of two years which prevented its code from being used for commercial purposes. Now, a new licence called "General Public License" applies to the protocol. 

If developers want to fork the code, they need to use an "Additional Use Grant" which is a production exemption that caters to the requirements of both open-source and commercial developers.

Uniswap is a decentralised exchange that is extensively used and is known as the largest automated market maker in the DeFi space. It offers a platform for token creators, traders, and liquidity providers to exchange tokens. The native token of Uniswap is a favoured way for investors to participate in the DeFi market.

It was reported in May 2021 that Uniswap v3 had surpassed Bitcoin in terms of daily fee generation, shortly after its launch. According to data from Cryptofees, Uniswap v3 was generating $4.5 million in daily fees, while Bitcoin generated $3.7 million at that time.

Recently, more than 55 million UNI token holders voted in favour of a governance proposal by 0x Plasma Labs to deploy the Uniswap protocol on Binance's BNB Chain. 

As a result, Uniswap officially went live on the BNB Chain earlier this month. The integration allows Uniswap users to access the ecosystem of the BNB Chain for token trading and swapping.

Shashank is the founder of yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash