important point
- Uniswap wants to deploy on the BNB chain.
- However, the two crypto companies disagree on which cross-chain bridge the protocol should use.
- Both Jump and a16z are pushing their investment bridging solutions (Wormhole and LayerZero, respectively).
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Uniswap’s proposal to use wormholes to deploy the protocol on the BNB chain is being contested by crypto firm a16z, who wants the decentralized exchange to use LayerZero instead.
Jump vs Andreessen Horowitz
Two crypto companies are fighting over Uniswap.
Uniswap community currently voting Regarding whether to deploy a decentralized exchange on the BNB chain and whether the protocol should use the Wormhole or LayerZero cross-chain bridge solutions.
The proposal is under scrutiny in the cryptocurrency community as it pits two prominent cryptocurrency companies, a16z and Jump, against each other. Jump is a major backer of Wormhole, while a16z has invested in LayerZero.
In the first “temperature check” poll, the Uniswap community overwhelmingly voted in favor of using Wormhole as a bridge (80.28% yes vs. 19.72% no).However, a16z partner Eddie Lazarin indicated The company was unable to commit 15 million UNI tokens to the proposal due to technical reasons regarding its custody settings.
Nevertheless, the stash of a16z may not be enough to prevent the final proposal from passing. At the time of writing, a total of 39.63 million votes were cast, with over 61.67% in favor and 38.32% against using his Wormhole to deploy his Uniswap on his BNB chain. a16z is the largest her UNI holder ever to commit a token vote, but in addition he only received 190,000 votes, bringing the total number of votes against the proposal to about 15,190,000. Meanwhile, Wormhole supporters received over 24,440,000 votes thanks to his UNI whales like Robert Leshner, GFX Labs and Argent.
However, it is worth noting that only 3.9% of all UNI tokens have committed to voting so far. The process is therefore far from a completed trade and can fluctuate in either direction. Voting closes on February 10th.
Disclaimer: At the time of writing, the author of this article owned BTC, ETH, and several other crypto assets.