Can Uniswap successfully migrate to BNB Chain amidst ongoing VC Battle?

The Uniswap community overwhelmingly supported a “temperature-check” proposal to deploy Uniswap v3 on a new chain. Uniswap’s UNI governance token holders approved the move of the decentralized exchange onto BNB Chain with 80% of the vote. This is often compared to Ethereum.
A16z’s Big No to Proposal
Things heated up when Andreessen Horowitz, a California-based venture capitalist voted against the proposal. He had a huge stake of 15,000,000 UNI. Some skeptics began to question whether Uniswap governance can act in the best interests of the protocol’s protocol because of the 15 million votes cast against it on A16z. People who have more tokens are more likely to be able to vote and can influence the direction of a particular proposal.


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The venture capital firm’s partners stated that they would vote for LayerZero as the deployment bridge during the temperature check. Eddy Lazzarin (head of engineering at a16z) made the following comment during the discussion on January 31:
To be completely clear, we at a16z would vote 15m tokens towards LayerZero if technically possible. We will be able to vote in future Snapshot votes. Please count us as follows for “temperature checks”.
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ConsenSys Casts Favor
ConsenSys, which is also responsible the popular MetaMask online wallet, will be the next to vote. Tally statistics show that the Web3 development company voted for the proposal to deploy the third version decentralized exchange Uniswap on Binance’s BNB Chain.
ConsenSys cast 7.03 million UNI tokens. This roughly translates into 17.58% of the voting power. This has further boosted the proposal’s chances of being launched on the BNB Chain. At the time this article was published, there were 68.82 millions votes cast. Only 6.8% of all UNI tokens had participated in the voting process. 77.56% of participants say “yes” to the proposition, 22.07% disapprove, and 0.36% abstain from voting.


Despite the fact that the proposal has been approved by a majority of stakeholders, there is still room for other stakeholders to influence its outcome in unexpected ways. It is not known if heavyweight investors like Polychain and Paradigm have voted. The voting process will be completed on February 10th.
Also read: Why is the Sandbox (SAND), price skyrocketing by more than 20%

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