A16Z practices control of uniswap by downvoting from BNB Chain use
A16Z practices control of uniswap by downvoting from BNB Chain use
The crypto venture company A16Z used its coordination block of 15 million university tokens to vote against a proposal that would use the wormhoch bridge uniswap V3 provision on BNB Chain.
According to the ongoing results of the proposal vote, the overwhelming token stock of A16Z enabled him to control about half of the votes so far and to advance the decision.
The proposal to provide the latest uniswap iteration at BNB Chain was submitted on February 2. It was by 0xplasma Labs on behalf of the UNISWAP community after a temperature test with 80 % approval for the proposal.
The voting phase ends on February 10, and only 3 % or 30.5 million votes were submitted at the time this report was created. In order for a vote to be accepted, it must achieve a quorum of 4 % or 40 million university tokens. A16Z has made every effort to make sure that this does not happen.
uniswap controlled by VCS
The step has angered the crypto community and demands answers from a protocol that claims to be decentralized.
You will be lied to with regard to the guidance of university could 41.5 million. Uni over 11 Wallets check, which makes up more than 4 % of the offer
4 % is the required amount to pass a proposal 🧵
-Bubblemaps (@Broblemaps) 5. February 2023
The decision to reject seems to have been driven by the choice of cross-chain bridge. 0xplasma Labs preferred Wormhole, while A16Z Layerzero prefers.
"As a result of a very complex discussion and coordination on the Snapshot, the community decided on the Wurmloch Bridge Uniswap V3 provision on BNB Chain (with 28 million votes)," said 0xplasma Labs.
In addition, A16Z led an investment round of $ 135 million in the Layerzero-Blockchain-Interoperability Protocol in March 2022.
Decentralization supporter Chris Blec , "Competition box in defi are Real. " After the vote, Binance boss Changpeng Zhao said:
"On chain voting only means that the large whales then check the blockchain. Just like shareholders."
🚨 @a16z has just used a to a Crushing $ uniswap. Use BNB chain @layerzero_labs .
open your eyes. 👀
Competition boxes in Defi are real. https://t.co/qwelvg5doj 5. February 2023
Uni-price view
Uniswapder Governance token from lost 3.9 %that day. At the time of the writing of this article, Uni was traded at $ 6.91 after a daily high of $ 7.30.
The token did not gain much dynamics during the January rally and won only 25 %last month.
The university prices fell below $ 5 after the FTX crash in November and have remained relatively unchanged since mid-August. In addition, university is still 84.6 % below his all -time high from May 2021 of almost $ 45
.