The VC giant has used its overwhelming voting power in an attempt to quash a proposal by Uniswap governance.
Crypto venture firm a16z has used its 15 million UNI token voting block to vote against a proposal that would use the Wormhole bridge for Uniswap V3 deployment on BNB Chain.of the proposal vote, a16z’s overwhelming token stash enabled it to control around half of the votes so far, pushing the decision its way.on the BNB Chain was submitted on Feb. 2. It was made by 0xPlasma Labs on behalf of the Uniswap Community, following a temperature check with 80% in favor of the proposal.
The voting period will conclude on Feb. 10, and only 3% or 30.5 million votes had been cast at the time of writing. For a vote to pass, it must achieve a quorum of 4% or 40 million UNI tokens.The move has the crypto community riled and calling for answers from a protocol that claims to be decentralized.
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