According to the ongoing results 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.
The proposal to deploy the latest Uniswap iteration 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. A16z has made every effort to make sure this doesn’t happen.
Uniswap Controlled by VCs
The move has the crypto community riled and calling for answers from a protocol that claims to be decentralized.
You’re being lied to about the governance of UNI @a16z could control 41.5M UNI through 11 wallets, which represents more than 4% of the supply
4% is the required amount to pass any proposal
License.
