Jump and a16z Fight to Obtain Uniswap Bridge Privileges
Two of the largest crypto VCs, Jump and a16z, are trying to influence Uniswap to use their preferred bridging solution in order for the protocol’s upcoming deployments on BNB Chain.
Key TakeawaysUniswap is looking to deploy on BNB Chain.
Two crypto firms disagree on which cross-chain bridge protocol should be used.
Jump and a16z both push for bridge solutions. They’re invested in LayerZero and Wormhole, respectively.
Share this article The proposal, which pits two prominent crypto companies–a16z & Jump–against one another, has been under scrutiny in crypto circles. Jump is a major backer for Wormhole, while a16z is invested into LayerZero. The initial “temperature-check” vote saw the Uniswap community vote in favor to use Wormhole as a bridge (82.8% “yes” votes to 19.72% “no”) votes. Eddie Lazzarin, an a16z partner, stated that the firm was unable to use its 15 million UNI tokens to oppose the proposal due to technical issues with its custodial setup. VC’s participation could have swung a vote due to its large holdings. However, a16z’s stock may not be enough to stop the final proposal passing. At the time this article was written, there were 39.63 million votes cast. 61.67% voted in favor of deploying Uniswap to BNB Chain using Wormhole, while 38.32% voted against. Despite being the largest UNI holder to have pledged its tokens to vote, a16z has only received an additional 190,000. This brings the total votes against the proposal to 15,190,000. The largest UNI token holder to have committed its tokens to vote is a16z. However, the proposal has only received an additional 190,000 votes. This brings the total number of votes against the proposal to approximately 15,190,000. Voting ends on February 10. Voting ends on February 10. Decentral Media, Inc. does not provide investment advice. We do not provide personalized investment advice or any other financial advice. This website’s information is subject to change at any time. The information on this website could become obsolete or incorrect. You may not be able to update any information that is outdated, incomplete or inaccurate. We also reserve the right to change any information that is incorrect, incomplete or outdated. If you need investment advice about an ICO, IEO or other investment, we strongly recommend that you consult a licensed financial advisor or other qualified financial professional. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.See full terms and conditions.Recommended News