Two of crypto’s largest VCs—Jump and a16z—are attempting to impact Uniswap into the use of their most standard bridging respond for the protocol’s upcoming deployment on BNB Chain.
Key Takeaways
- Uniswap desires to deploy on BNB Chain.
- On the assorted hand, two crypto companies are disagreeing on which noxious-chain bridge the protocol may perchance possess to aloof use.
- Jump and a16z are each and every pushing for bridge solutions they’re invested in—Wormhole and LayerZero, respectively.
A Uniswap proposal to deploy the protocol on BNB Chain by the use of Wormhole is being contested by crypto firm a16z, which desires the decentralized commerce to make use of LayerZero instead.
Jump vs. Andreessen Horowitz
Two crypto companies are combating over Uniswap.
The Uniswap community is at the moment balloting on whether to deploy the decentralized commerce onto the BNB Chain—and whether the protocol may perchance possess to aloof use Wormhole or the LayerZero noxious-chain bridge respond to impress so.
The proposal has advance under scrutiny within the crypto community as it pits two prominent crypto companies—a16z and Jump—in opposition to every other. Jump is a major backer of Wormhole, whereas a16z is invested in LayerZero.
The preliminary “temperature evaluation” vote saw the Uniswap community overwhelmingly vote in prefer of the use of Wormhole as a bridge (80.28% “yes” votes in opposition to 19.72% “no” votes). On the assorted hand, a16z accomplice Eddie Lazzarin indicated that the firm had no longer been able to commit its 15 million UNI tokens in opposition to the proposal attributable to technical reasons when it comes to its custodial space-up. Because of the its huge holdings, VC’s participation will possess swung the vote.
Nevertheless, a16z’s stash may perchance well no longer be ample to forestall the closing proposal from passing. On the time of writing, a total 39.63 million votes had been solid, with over 61.67% in prefer of deploying Uniswap on BNB Chain the use of Wormhole and 38.32% in opposition to. While a16z is the greatest UNI holder to possess dedicated its tokens to vote to date, it has wonderful courted a extra 190,000 votes, bringing the packed with votes in opposition to the proposal to roughly 15,190,000. Meanwhile, Wormhole backers possess secured over 24,440,000 votes thanks to UNI whales equivalent to Robert Leshner, GFX Labs, and Argent.
On the assorted hand, it’s price noting that wonderful 3.9% of all UNI tokens possess been dedicated to vote to date: the process is subsequently removed from a carried out deal and may perchance well aloof swing both manner. Voting concludes on February 10.
Disclaimer: On the time of writing, the creator of this allotment owned BTC, ETH, and several other other crypto assets.
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