Binance Benotzt net Uniswap (UNI) Tokens fir ze stëmmen, kläert CZ

After Binance became the second-largest entity by voting power in the Uniswap DAO, the CEO of the popular DEX, Hayden Adams, took it to Twitter to describe the situation as “unique” while adding that “UNI technically belongs to its users.”

He accused Binance of using user funds to pile up governance votes.

Hayden Adams on Binance

Adams behaapt huet that it was unclear how the crypto exchange intended to engage with the decisions of the DEX and argued that Binance users would “prefer to keep these gov rights,” citing Compound’s action with cUNI.

Binance distributed 13.2 million UNI tokens from its own books. It currently retains 5.9% of the platform’s voting power trailing behind venture capital giant a16z, which controls 6.7%. The allocated amount is nearly 1.3% of the total UNI supply. This will allow Binance to present governance proposals as it exceeds the necessary 0.25% threshold. Despite this, it fell short of the 4% quorum required to pass votes.

The move was seen as one of the largest centralized crypto exchange wrestling to gain control over the world’s most prominent decentralized crypto exchange by positioning itself as the second-most powerful voting member in the latter’s DAO.

Binance Says Uniswap “Misunderstood”

Following the development, Binance revealed the transfer of 4.6 million UNI between internal Binance wallets, which caused the UNI to be instantly and automatically delegated. The exchange asserted that it was not its intention and said that the team was in talks with Uniswap “to clarify the best path forward and prevent this misunderstanding from happening again.”

Binance CEO Changpeng Zhao “CZ” later gekuckt that the exchange does not vote with user tokens and that the popular DEX had misunderstood the situation.

"UNI tëscht internen Binance Portemonnaie transferéiert, wouduerch d'UNi automatesch delegéiert gëtt. Dëst ass Deel vun hirem Protokoll, net "mir geduecht". Binance stëmmt net mat de Benotzer Tokens. Uniswap huet d'Situatioun falsch verstanen. Tokens kommen op populär Plattformen.

The team behind the DEX, Uniswap Labs, recently geséchert $165 million in a Series B funding round led by Polychain Capital and Andreessen Horowitz (a16z). The platform revealed plans to deploy the freshly raised capital for NFT investments and developer tools.

Earlier this year, Uniswap iwwerstoen a lifetime cumulative trading volume of $1 trillion.