Key takeaways
- Uniswap desires to deploy on the BNB chain.
- Nevertheless, the 2 crypto generations disagree on which cross-chain bridge the protocol makes use of.
- Each Leap and a16z are pushing bridge options by which they’re invested—Wormhole and LayerZero, respectively.
Share this text
UniSwap’s proposal to deploy a protocol on the BNB chain utilizing a wormhole is being contested by crypto agency a16z, which desires the decentralized change to make use of LayerZero as an alternative.
Leap Vs. Andreessen Horowitz
Two crypto corporations are combating over Uniswap.
Uniswap group Voting is at the moment occurring Relating to whether or not to deploy a decentralized change on the BNB chain—and whether or not the protocol ought to use a wormhole or LayerZero cross-chain bridge resolution to take action.
The proposal has come below scrutiny within the crypto group because it pits two main crypto companies—a16z and Leap—in opposition to one another. Leap is a serious proponent of wormholes, whereas a16z invests in LayerZero.
In an preliminary “temperature verify” vote the UniSwap group voted overwhelmingly in favor of utilizing wormholes as bridges (80.28% “sure” votes in opposition to 19.72% “no” votes). Nevertheless, a16z associate Eddie Lazarin is indicated That the agency was not in a position to commit its 15 million UNI tokens in opposition to the proposal because of technical causes relating to its custodial set-up. As a consequence of its large holdings, VC participation might have swayed the vote.
Nevertheless, a16z’s stash is probably not sufficient to forestall the ultimate proposal from passing. On the time of writing, a complete of 39.63 million votes had been forged, with 61.67% in favor of deploying UniSwap on the BNB chain utilizing a wormhole and 38.32% in opposition to. Whereas a16z is by far the most important UNI holder to commit his tokens to a vote, he solely forged an extra 190,000 votes, bringing the entire variety of votes in opposition to the proposal to roughly 15,190,000. In the meantime, wormhole supporters have obtained greater than 24,440,000 votes, due to UNI whales similar to Robert Leshner, GFX Labs and Argent.
Nevertheless, it is value noting that thus far solely 3.9% of all UNI tokens have been dedicated to voting: the method is way from a completed deal and may nonetheless swing both manner. Voting will likely be accomplished on February 10.
Disclaimer: On the time of writing, the creator of this piece owned BTC, ETH and another crypto property.
