Binance now second-largest entity by voting power in Uniswap DAO

Crypto exchange Binance has made a move toward taking part in the governance process of the decentralized exchange Uniswap, making it the second-largest entity by voting power in the Uniswap DAO. Binance delegated 13.2 million UNI tokens on Oct. 18 to its own wallet, meaning the exchange. Binance now has 5.9% of the voting power, calculated as a percentage of tokens delegated to the exchange out of all delegated tokens. It sits behind crypto VC firm a16z, which has 6.7% of the vote. The amount Binance has delegated represents 1.3% of the total supply of UNI. This is above the 0.25% threshold for proposing governance votes but below the 4% quorum required for votes to pass.

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