A UC Berkeley group of Students are directly involved into Uniswap’s governance as they became the 10th biggest Uniswap delegate as we can see more in the latest cryptocurrency news.
Blockchain at Berkeley which is a student-run blockchain organization became the tenth biggest delegate for the Uniswap platform and only highlighted the diverse groups that are involved in the emerging DeFi platform. The UC Berkeley group of students amassed 2.5 million votes where it is tied with three other organizations. This gives Blockchain at Berkley a vote of 2.336% while Dharma is the biggest delegate with 16,659,333 votes or 14.632%.
— Blockchain at Berkeley (@CalBlockchain) December 21, 2020
Founded back in 2016, Blockchain at Berkeley described itself as a “hub for blockchain innovation” providing consulting, education, and design services. The partners include ETH, Hyperledger, and Universal Protocol. The group voted in favor of Uniswap Grants Program v0.1 which outlined the framework for funding ecosystem development. A total of 60,088,813 votes were cast in favor o the programs against 9300 cast against them. The proposal is queued at the time of writing.
The first governance vote in October ended in failure right after the delegates were unable to meet the 40 million vote threshold needed for approval. The second vote cast on October 31 was defeated for almost the same reason. Blockchain at Berkeley did not participate in either of the votes. Uniswap emerged as the biggest decentralized exchange though the governance has drawn scrutiny. Industry observers complained about the UNI whales who they see as controlling the ecosystem. Earlier this month, the platform volumes hit $50 billion across 26,000 trading pairs which only highlighted the growing utility of decentralized finance exchanges.
As previously reported on Uniswap, The Uniswap Dharma sparked controversy over governing the protocol as it wants to make it easier for the community to govern it. The concerns abounded that this will lead Dharma into making a cartel. Uniswap introduced the governance protocol back in September. Dharma is a portal to decentralized exchange Uniswap which misled the people into voting for a proposal that will allow a few companies to enroll the network into passing any proposal they like. A lot of that was not true but the debacle pressed on the scars in Uniswap’s fledging governance system.
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