Binance's CZ Raises Questions After a16z Downvotes Final Uniswap V3 Proposal

Venture capital firm Andreessen Horowitz (a16z) has voted against the final proposal to deploy Uniswap v3 on the BNB Chain using the Wormhole bridge, according to the Uniswap DAO forum.

What Happened: The governance proposal to deploy the latest Uniswap iteration on the BNB Chain was submitted on Feb. 2 by 0xPlasma Labs on behalf of the Uniswap Community. 

After a successful temperature check with a strong majority in favor, the proposal received 20 million (80.28%) votes for 'yes' and 4.9 million (19.72%) votes for 'no'. 

See More: Top Indian Apps That Give Bitcoin, NFT Rewards 

However, on Sunday, the venture firm used its 15 million UNI holding to surprisingly vote against the move. The voting period is scheduled to end on Feb. 10. That prompted Binance BNB/USD founder and CEO Changpeng Zhao to raise a question: “[Is] Uniswap controlled by a16z?”

It should be noted that behind the disagreement lies the choice of a cross-chain bridge for deployment. While the proposal opts for the Wormhole bridge, a16z is pushing for LayerZero to be the interoperability protocol of choice. 

Read Next: Bitcoin, Ethereum, Dogecoin Slump As Post-Fed Rally Fades: Analyst Says Breaching $25K Looks Difficult For Apex Coin

Market News and Data brought to you by Benzinga APIs
Posted In: CryptocurrencyNewsMarketsAndreessen HorowitzBinanceChangpeng ZhaoUniSwap
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!