SCOOP: Crypto exchange Binance denied allegations of misusing its users’ token holdings to exercise voting power on the Uniswap decentralized autonomous organization. By shauryamalwa.
Crypto exchange Binance denied allegations of misusing its users’ token holdings to exercise voting power on the Uniswap decentralized autonomous organization .
“Binance doesn’t vote with user’s tokens. In this case, there has been a misunderstanding of what happened during the transfer of a large balance of UNI between wallets,” a Binance spokesperson told CoinDesk this morning. “We’re currently in discussions to improve the process to prevent any further misunderstandings from happening again,” they added.
Users may also “delegate” their tokens to other entities, thereby enabling those entities to vote on their behalf. Binance currently retains 5.9% of the voting power on Uniswap, second only to venture capital giant a16z, which controls 6.7%,
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