The Uniswap DAO has approved a second non-binding proposal, dubbed a “temperature measure,” to make Wormhole the official bridge for cross-chain governance of the protocol between the BNB Chain and Ethereum, according to the official page for the proposal.
BREAKING: Wormhole has won the vote to be Uniswap’s designated bridge to the Binance Chain! This is a major step forward in the development of the DeFi ecosystem. #DeFi #BNBChain #Uniswap #wormhole
— BitArchive (@ChainArchives) January 31, 2023
The proposal will now become part of a final plan to implement Uniswap V3 on the BNB Chain, which will be put to a binding governance vote at some point in the future.
Wormhole was up against three rival bridging solutions in the DAO referendum: LayerZero, deBridge, and Celer. Wormhole won a clear majority with 62.31% of the vote. LayerZero came in second with 37.58%, with DeBridge and Celer each getting less than 0.1%.
This is the second time that the Uniswap DAO has attempted to reach a consensus on the choice of bridging solutions. On January 21, the DAO voted in a consultation to deploy Uniswap V3 on the BNB Chain and use the Celer bridge to manage cross-chain governance votes. However, even before the vote ended, some community members began to raise concerns about the security and centralization of the use of the Celer Bridge.
On January 27, DAO members began voting in this second phase to specifically decide on the choice of the bridge, with the understanding that the decision to deploy to BNB Chain had been resolved in the previous vote.
The Solana-Ethereum version of Wormhole was hacked in February 2022, allowing the attacker to earn $321 million worth of cryptocurrency in one of the largest decentralized finance exploits in history. However, the Wormhole team replaced Ether (ETH) in the bridge to reimburse users, and the BNB-Ethereum version of the bridge does not appear to have been affected by the exploit.
LayerZero has recently been the subject of controversy, as a rival developer accused the bridging protocol of having security vulnerabilities. The LayerZero team has denied the claim, claiming it is misleading.
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