The proposition to release Uniswap V3 (UNI) to BNB Chain (BNB) was accepted by 65.89% yes votes on Feb. 10, despite the fact that Andreessen Horowitz (a16z) utilized its 15 million votes to oppose it on Feb. 6.

The results program that 65.89% concurred with the deployment, 33.57% voted versus it, and another 0.53% stayed away. ConsenSys, Compound Finance CEO Robert Leshner, and GFX Labs were among the most prominent yes citizens, with 7.03 million, 5.76 million, and 4.92 million UNI tokens, respectively.

The proposition

The deployment was 0xPlasma Labs CEO Ilia’s concept. Illia argued releasing Uniswap V3 to BNB Chain might bring an extra one to 2 million users in addition to around $1 billion in Total Value Locked (TVL). He recommended leveraging wormholes to increase adoption for the Uniswap platform.

0xPlasma Labs sent a proposition on Dec. 12, 2022, which protected a preliminary governance approval on Jan. 23, with over 80% of the individuals ballot yes.

a16z disagrees

0xPlasma Labs sent another proposition on Feb.3 for last approval. On Feb. 6, a16z utilized all its 15 million UNI tokens to vote versus the proposition. The business stated it didn’t think that the wormhole innovation would provide the most safe bridging choice, mentioning breaches and security failures.

16z’s ballot bloc triggered concerns about Uniswap’s decentralization. With the 41.5 million UNI tokens kept in 11 various wallets, a16z represented more than 4% of the supply, which offered it an apparent benefit in governance propositions.

Posted In: Uniswap, DeFi, DEX

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