Uniswap BNB deployment is ‘now or never’ as a16z disagrees on bridge solution
of suggestion Plans to roll out Uniswap V3 on the BNB chain stalled this week after investment firm a16z voted against the integration due to disagreements over the bridge provider. However, as of press time on February 6, 70% of the vote is in favor of the proposal.
a16z voted against the proposal to roll out to the BNB chain. voting by proxy For the LayerZero bridge platform.However, more recent a16z post It stipulated that it voted instead to “reset the Binance Uniswap v3 deployment” until further review of bridge options is complete.
The Uniswap community has been vocal in their support for the BNB rollout as time is of the essence. business licenseHowever, the founder of 0xPlasma Labs, the company that made the first BNB proposal, pleaded via a forum that BNB rollout is “now”.
“Are we ready now to lose our protocol market share forever with many new chains? Would you take the chance to solve the dilemma?
For me the answer is clear.
But the governance drama gets worse as a16z’s level of control over Uniswap becomes public.The investment firm representative was active on his Uniswap forum and apparently announced their position on the issue.
a16z Uniswap control
almost 15 million You voted “for LayerZero” with your UNI token. This is because the bridge proposal could not be voted on because the token is in use. illiquidHowever, a16z has confirmed that they are storing enough tokens to be able to vote in future snapshots.
a16z reportedly holds about 4% of the UNI token supply, with 4% being a quorum requirement for governance proposals. Theoretically, a16z alone has enough tokens to pass the proposal. However, given the openness of all governance submissions, it is still highly unlikely that other token holders will allow this.
Activities of the Governance Forum
The Uniswap Governance Forum was very active throughout the discussion with developers, community members, investors and other representatives participating in the discussion. Unlike traditional industries, DAO proposals are often completely exposed to the public eye. Analyzing forum conversations, whether or not Uniswap will be deployed on his BNB chain is being deployed in a similar fashion with great transparency.
Uniswap community member Maneki argued that competing with PancakeSwap must remain a top priority.
PancakeSwap details plans to launch the V3 model on the same day that Uniswap’s V3 BSL license expires, so Uniswap’s governance will act quickly and make decisions to remain competitive. it’s important to put it down. “
The future of Uniswap V3 on the BNB chain
The vote for BNB deployment was close throughout. However, on February 6, about 20 million votes voted in favor of passing the proposal. Given that a16z publicly declared that he voted against the proposal with 15 million UNI, he received only 189,084 votes in favor of rejecting the proposal.
If a16z deploys the remaining 25 million UNI tokens under its ownership, it could force the proposal to fail. However, while 4% of the supply is influential in voting, at the time of writing the article has only 5% participation from the community, but significantly more holders are able to vote to advance the deployment. can.
Interestingly, only tokens delegated before UNI block 16558461 are eligible for voting. This is because Uniswap uses a delegation system similar to voter registration. This requires holders to register their tokens to participate in governance voting. So even though 95% of tokens don’t vote, not all of the supply is delegated to voting.
according to on-chain data, approximately 208 million UNI tokens have been delegated or self-delegated and are eligible to vote. So, as of this writing, there are still about 150 million votes eligible to vote.
