Robert Leshner: Compound Founder Backs Uniswap V3 Deployment

Robert Leshner votes in favor of Uniswap V3 deployment.
a16z cast 15 million UNI tokens against the Uniswap V3 proposal.
A16z, according to Binance CEO Changpeng Zhao, depicts power manipulation.

According to recent reports, Robert Leshner, the founder of Compound Labs and the owner of 5.76 million tokens, is alleged of voting to install Uniswap V3 on the BNB Chain.

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Despite Leshner’s support for the proposal, the total number of votes has yet to reach the 40 million UNI required to trigger the deployment of Uniswap V3 on the Binance Chain. Nevertheless, with 58.45% of the votes in favor, the proposal will eventually reach the required number of votes.

However, sources state that an American venture capital firm, a16z, cast 15 million UNI tokens—or 41.54% of the votes—against the proposal. The a16z side acknowledged that they preferred LayerZero over Wormhole. Nonetheless, they were unable to garner votes during the Temperature Check stage.

Some users assert that a16z exploited all of its authority to influence the Uniswap proposition improperly. In contrast, others believe this is correct because they only exercised their voting rights to the extent they paid for them.

Binance CEO Changpeng Zhao backed in a tweet that a16z demonstrated the manipulation of power in the DeFi market.

On the other hand, the leadership of UNI has been accused of lying by Bubblemaps, an innovative blockchain graphics firm. With almost 41.5 million UNI spread among 11 wallets, as opposed to the 15 million indicated, the tweet claims that a16z can effectively manipulate the votes.

Based on the platform governance guidelines, a proposal must get a minimum of 4% of the overall vote to be accepted on Uniswap. If the data from Bubblemaps is accurate, a16z should be able to rotate or control Uniswap. The protocol’s decentralized design presents a problem in this situation yet again.

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Godfrey Mwirigi

Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.