Members of the Uniswap community, a leading decentralized crypto exchange (DEX), voted “Agree” to deploy it on Binance’s BNB blockchain using the Wormhole bridge, and the vote ended.too Andreesen Horowitz (a16z) is the underdog.
This week’s vote by the Uniswap DAO, a decentralized autonomous organization. Voting was open to Uniswap (UNI) token holders and closed on Friday, with 66% in favor of Uniswap’s deployment on the BNB Chain and 34% in opposition.
The main contender is Uniswap’s largest investor, a16z, which wants to use its own company-invested LayerZero as a cross-chain bridge instead of LayerZero, but lost to a community poll earlier in favor of using Wormhole, a wormhole. Competitor of LayerZero instead
a16z opposed and raised concerns about Wormhole’s security concerning security flaws.
“We don’t believe Wormhole is the most secure or decentralized option,” wrote a16z partner Porter Smith, referring to last year’s $326 million hack of the Wormhole platform. It is an important factor in the opinion of the company.
A16z representatives also said the company took issue with the process the DAO uses to evaluate bridge options, recommending that the community vote again after the official review of bridge content is completed.
Robert Leshner, founder of crypto lending platform Compound, voted to “support” Uniswap’s adoption of the BNB Chain, despite being an investor in LayerZero.
Uniswap v3 is currently active on Ethereum and other blockchains and has a daily trading volume of over $1 billion.
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