Binance CEO Clarifies UNI Token Delegation Amid Uniswap DAO Controversy
Binance CEO Addresses UNI Token Delegation Controversy
Binance CEO Changpeng "CZ" Zhao has responded to questions surrounding the delegation of 13.2 million UNI tokens on October 18, which positioned Binance as the second-largest entity by voting power in the Uniswap DAO. CZ explained that the situation was a misunderstanding, attributing the token delegation to an internal wallet transfer. This automatic delegation occurred without any intentional action to influence the Uniswap governance.
Clarification on Token Usage
CZ denied allegations that Binance was using users' tokens to vote in the Uniswap DAO. He emphasized that the transfer was between internal wallets, ensuring that no user funds were involved in the delegation process. This clarification aims to reassure the community that Binance remains committed to transparency and ethical practices in decentralized governance.
The incident highlights the importance of clear communication in the crypto space, especially when it comes to governance and the use of tokens. As the Uniswap DAO continues to evolve, such transparency will be crucial in maintaining trust within the community.
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