UC Berkeley student group becomes 10th largest Uniswap delegate

December 24, 2020 crypto News 0

A UC Berkeley blockchain group is playing a direct role in Uniswap governance.

Blockchain at Berkley, a student-run blockchain organization, has become the tenth-largest delegate for the Uniswap exchange, highlighting the diverse groups involved with the emerging DeFi platform.

The student group has amassed 2.5 million votes, where it’s tied with three other organizations, according to Sybil, an Ethereum governance tool. That gives Blockchain at Berkley a vote weight of 2.336%. Dharma is the largest delegate with 16,659,333 votes, or 14.632%.

Founded in Oct 2016, Blockchain at Berkeley describes itself as a “hub for blockchain innovation” providing consulting, design and education services. Its partners include Ethereum, Universal Protocol and Hyperledger.

On Dec. 23, Blockchain at Berkley voted in favor of Uniswap Grants Program v0.1, which outlines a framework for funding ecosystem development. A total of 60,088,813 votes were cast in favor of the program versus 9,300 cast against. The proposal is queued at the time of writing.

Uniswap proposal 3 vote results via Uniswap

Uniswap’s first governance vote in October ended in failure after the delegates were unable to meet the minimum 40-million-vote threshold needed for approval. A second vote cast on Oct. 31 was defeated for a similar reason. Blockchain at Berkley didn’t participate in either of the two votes.

Uniswap has emerged as the largest decentralized exchange, though its governance has drawn scrutiny. Industry observers have commonly complained about UNI whales, who they view as controlling the ecosystem. Earlier this month, Uniswap’s lifetime volumes topped $50 billion across 26,000 trading pairs, highlighting the growing utility of decentralized finance exchanges. 

Blockchain at Berkeley did not immediately respond to a request for comment.

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