The crypto investment company recently voted against the proposal to roll out the last uniswap iteration on the binary chain using the vortex bridge.
The Commission will vote against the proposal.
After passing an early temperature check, the proposal to deploy the latest version of the decentralized exchange Uniswap on the BNB Chain was brought forth for a full governance vote on the Uniswap DAO. As proposed by 0xplasma labs, uniswap v3 would be rolled out on the bnb chain using the vortex bridge. However, the crypto arm of Andreessen Horowitz, a16z, voted vehemently against the proposal using his important participations in unity.
The current voting period will end on February 10. At the time of writing this report, only 3% of the Heads of State or Government voted.
The proposal was successful in the temperature verification.
The proposal had already passed temperature control, in which a16z was not involved because of the placement of its tokens. The verification of the temperature resulted in a crushing 80% of the votes (20 million) for yes, with a little around 20% of the votes (4.9 million) for no. The second alternative to the vortex was layerbridge, which got seventeen million votes.
Nevertheless, the A16z partners had already indicated their intention at the time. The fund rejected the proposal because it supports the layerzero as a bridge rather than a vortex. As a result, a16z used the 15 million they voted united against the proposal.
The Head of Engineering at a16z, Eddie Lazzarin, pointed out,
"To be totally unambiguous, we at a16z would have voted 15 million tokens toward LayerZero if we were technically able to. And we will be in a position to proceed with further one-off votes. Therefore, for the needs of a "temperature check", please count us in this way."
A16z Vs. Jump Encryption - Vortex Vs. Layer.Zero
On the opposite end, another leading crypto VC, Jump Crypto, has been invested in the Wormhole bridge, even though the fund did not vote for or against the current proposal. Both crypto backgrounds are in opposition because of their respective bridge selections. It is interesting to note that the recent debate on bridges between chains should mention the many attacks that exploited their vulnerabilities. The vortex itself lost $325 million following a 2022 attack. Ultimately, these venture capitalists are going to vote for their holding companies. However, the partisans of Wormhole hoped to avoid this situation and are still surprised that a16z chose to oppose the community vote.