DeFi

Binance Becomes Second-largest Entity Of Uniswap

Binance, the cryptocurrency exchange, has made a stride toward participating in the governance process of the decentralized exchange Uniswap, becoming the second-largest organization by voting power in the Uniswap DAO.
Binance Becomes Second-largest Entity Of Uniswap 3

Binance allocated 13.2 million UNI tokens to its own wallet on October 18, which means the exchange may now use those tokens to vote on governance choices impacting the protocol within the Uniswap DAO.

Binance currently controls 5.9% of the voting power, measured as a proportion of tokens allocated to the exchange out of the total tokens assigned. It trails crypto VC company a16z, which received 6.7% of the vote.

Binance Becomes Second-largest Entity Of Uniswap 4

This worries Uniswap creator Hayden Adams, who is concerned that Binance may utilize tokens owned by exchange customers to participate in governance for its own purposes. Adams said on Twitter:

Binance’s delegation comprises 1.3% of the overall supply of UNI. This is greater than the 0.25% threshold for proposing governance votes but less than the 4% necessary for votes to succeed. Following a governance vote, the threshold for proposing votes was recently decreased.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Cosmos Developer Interchain Foundation Sold 3000 ETH Today

Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…

2 minutes ago

Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance

George Town, Grand Cayman, 22nd November 2024, Chainwire

22 minutes ago

Inflation Warning By Vanguard Amid Tariffs And Labor Issues

Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…

38 minutes ago

Clanker Token Trading Volume Hits $59.8 Million High On November 21

Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…

1 hour ago

Bitcoin Spot ETF Inflows Hit $1 Billion Led By BlackRock

Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…

1 hour ago

New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot

Discover the success story of a New York tech entrepreneur who made $72M from a…

2 hours ago

This website uses cookies.