The Uniswap community on its governance forum overwhelmingly supported a “temperature check” proposal to deploy the Uniswap v3 protocol on a new chain. With 80% of the vote, Uniswap’s UNI governance token holders have approved moving the decentralized exchange system to BNB Chain, an alternative to Ethereum.

However, things heated up when Andreessen Horowitz (a16z), a California-based venture capitalist, voted against the proposal with a massive stake of 15 million UNI. As a result of the 15 million votes that were cast against the measure on A16z, some sceptics have begun to question the ability of Uniswap governance to act in a manner that is in the best interest of the protocol. Those who possess a bigger number of tokens typically have a greater proportion of voting power and are able to significantly influence the path that a particular proposal takes.