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Leap and a16z Combat for Uniswap Bridge Privileges


Key Takeaways

  • Uniswap desires to deploy on BNB Chain.
  • Nonetheless, two crypto corporations are disagreeing on which cross-chain bridge the protocol ought to use.
  • Leap and a16z are each pushing for bridge options they’re invested in—Wormhole and LayerZero, respectively.

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A Uniswap proposal to deploy the protocol on BNB Chain through the use of Wormhole is being contested by crypto agency a16z, which desires the decentralized change to make use of LayerZero as a substitute.

Leap vs. Andreessen Horowitz

Two crypto corporations are preventing over Uniswap.

The Uniswap neighborhood is at present voting on whether or not to deploy the decentralized change onto the BNB Chain—and whether or not the protocol ought to use Wormhole or the LayerZero cross-chain bridge resolution to take action. 

The proposal has come below scrutiny within the crypto neighborhood because it pits two distinguished crypto corporations—a16z and Leap—towards one another. Leap is a serious backer of Wormhole, whereas a16z is invested in LayerZero. 

The preliminary “temperature examine” vote noticed the Uniswap neighborhood overwhelmingly vote in favor of utilizing Wormhole as a bridge (80.28% “sure” votes towards 19.72% “no” votes). Nonetheless, a16z companion Eddie Lazzarin indicated that the agency had not been capable of commit its 15 million UNI tokens towards the proposal as a result of technical causes close to its custodial set-up. Attributable to its huge holdings, VC’s participation might have swung the vote.

However, a16z’s stash will not be enough to forestall the ultimate proposal from passing. On the time of writing, a complete 39.63 million votes had been forged, with over 61.67% in favor of deploying Uniswap on BNB Chain utilizing Wormhole and 38.32% towards. Whereas a16z is the largest UNI holder to have dedicated its tokens to vote to date, it has solely courted an extra 190,000 votes, bringing the full of votes towards the proposal to roughly 15,190,000. In the meantime, Wormhole backers have secured over 24,440,000 votes due to UNI whales similar to Robert Leshner, GFX Labs, and Argent.

Nonetheless, it’s price noting that solely 3.9% of all UNI tokens have been dedicated to vote to date: the method is subsequently removed from a completed deal and will nonetheless swing both method. Voting concludes on February 10. 

Disclaimer: On the time of writing, the writer of this piece owned BTC, ETH, and a number of other different crypto property.

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