It happens to be the venture capital firm a16z, which voted against the governance proposal meant to position Uniswap V3 to Binance’s BNB Chain, which happens to be linked to Ethereum. This is with the help of the cross-chain linking solution Wormhole. The entity was built by Certus One, and it happens to be an interoperability protocol that permits users to be able to link assets through all blockchains. The bridge that had been created on top of the Wormhole protocol had lost a total amount of $325 million and was considered to be the second biggest loss where DeFi is concerned.
Portal, on the other hand, happens to be a prime competitor of the LayerZero offering, a firm that happens to have the support of a16z. It also happened to have been a16z, along with Sequoia Capital, and FTX led a $135 million investment round where LayerZero is concerned. It also was valued at $1 billion.
Where a16z is concerned, the company happens to be the owner of approximately 64 million UNI. However, it so happens that a majority of the tokens have been allotted to third parties. Following a debate, along with a Snapshot vote, it happened to have been the community that finally chose the wormhole bridge for the sake of the Uniswap V3 positioning on the BNB Chain and got for itself 28 million votes.
The entire aim and intention of Uniswap are to make use of the increasing inclination towards DeFi in the Binance ecosystem. This is done by providing further amounts of capital to pass through a variety of ecosystems. This also happens to be in accordance with the proposal on Tally. Wormhole happens to have been created with the sole intention of providing all of the safety and security factors that go into the linking of digital assets, in spite of the fact that the exploits happened to have taken place the previous year.
