ICYMI: Binance becomes Uniswap DAO's second largest vote-holder.
Crypto exchange Binance is now the second-largest entity by voting power in the Uniswap DAO, sitting just behind the venture firm Andreessen Horowitz, orOn Oct. 18, Binance delegated 13.2 million UNI tokens from its own books, which represents 5.9% of the voting power — a percentage of tokens delegated to the exchange. Compared to the total supply of UNI, the amount delegated represents 1.3%.
The move will allow Binance to propose governance votes, as it exceeds a threshold of 0.25%, but it’s still below the 4% quorum requirement to pass votes. A recent governance vote reduced the threshold for proposing votes. On Twitter, Uniswap’s CEO, Hayden Adams, labeled the change as a"very unique situation, as the UNI technically belongs to its users."Very unique situation, as the UNI technically belongs to its users.
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