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The University of California’s Berkeley Student Group becomes Uniswap’s 10th largest delegate

Blockchain at Berkley, a student-run blockchain organization, has become the tenth largest delegate of the Uniswap exchange, Highlighting the different groups participating in the nascent decentralized financial platform (DeFi).

The student group received 2.5 million votes where it is affiliated with three other organizations, according to Sybil. an Ethereum governance tool. Which gives Blockchain at Berkley a voting weight of 2.336%. Dharma is the largest delegate with 16,659,333 votes or 14,632%.

Founded in October 2016, Blockchain in Berkeley describes itself as a “Blockchain Innovation Hub” offering consulting, design and educational services. Its partners include Ethereum, Universal Protocol and Hyperledger.

The University of California’s Berkeley Student Group becomes Uniswap’s 10th largest delegate
The University of California’s Berkeley Student Group becomes Uniswap’s 10th largest delegate

23rd of December Blockchain at Berkley Voted Uniswap’s v0.1 grant program, which set out a framework for funding ecosystem development. A total of 60,088,813 votes were cast for the program, compared to 9,300 against. The proposal is pending at the time of this writing.

Results of the 3rd vote on the Uniswap proposal. Source: Uniswap

Uniswap’s first vote in October ended in failure after delegates failed to reach the minimum threshold of 40 million votes required for approval. A second vote on October 31 was rejected for a similar reason. Blockchain at Berkley he did not participate in either vote.

Uniswap has emerged as the largest decentralized exchange in the DeFi niche, despite scrutiny of its governance. Industry watchers have frequently complained about UNI’s whales, which they believe control the ecosystem. Earlier this month, Uniswap’s lifetime volume in 26,000 trading pairs was over $ 50 billion, underscoring the increasing utility of decentralized financial exchanges.

Blockchain in Berkeley did not immediately respond to our request for comment.

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