Uniswap Centralized? A16z Flexes Voting Power to Crush Governance Proposal
The popular decentralized exchange, Uniswap, is having one of its latest governance proposals stonewalled by the crypto venture capital giant Andreesen Horowitz (a16z). The ongoing proposal vote, which ends on February 10, is currently 38% weighed against the change – almost entirely due to the software investor. So Much for Decentralization The proposal , tabled by 0xPlasma Labs on February 2, would have Uniswap v3 deployed to BNB chain. To enable the deployment, the proposal chose to use Wormhole – an interoperability protocol letting users transfer funds between blockchains. Last month, sources told The Block that A16z’s motivation to oppose the vote is based on a preference of the LayerZero bridge over Wormhole. This is partly due to the technical security differences between blockchain bridges. Bridges have fallen victim to some of the most catastrophic hacks in DeFi history – including Wormhole, which had $326 million stolen from it in 2022. WoD Limited Genesi...