As Uniswap DAO’s vote to deploy to BNB chain continues, LIFI CEO Phillip Zentner argued in a February 6 discussion board submit that the present proposal is flawed. According to him, the plan to make use of Wormhole as the only governance bridge for Uniswap must be deserted. Instead, he claimed that Uniswap researchers ought to work on a standardized system for utilizing a number of bridges to deal with governance choices.
The ongoing dialogue on @Uniswap‘s discussion board is crucial for the multi-chain ecosystem in 2023.
TL;DR: Uniswap’s mannequin for x-chain governance will probably change into trade normal.
As an unbiased member of the group, @lifiprotocol is rooting for a multi-bridge implementation
— Philipp Zentner | LI.FI (@PhilippZentner) February 6, 2023
In the submit, Zentner said that LIFI strongly recommends “that Uniswap not select one bridge provider for its BNB Chain Deployment Proposal” as a result of “no single AMB [arbitrary messaging bridge] is tested enough to be considered a robust and secure solution that a project of Uniswap’s size can solely rely on at this point.”
As proof of this, Zentner reminded readers of the slew of bridge hacks the crypto group has suffered over the previous two years, stating:
“Lest it be forgotten, two major AMBs were exploited in the past twelve months (Nomad and Wormhole), while LayerZero has also come under fire recently for its security model (Prestwich 2, L2Beat). We do not say this as condemnation, rather, we point this out to highlight just how difficult it is to build secure AMBs and the subsequent risks a dApp is exposed to by choosing a single bridging solution.”
For this cause, LIFI needs to see “a multi-bridge, agnostic approach” to Uniswap governance. Zentner proposed that this might be completed by appointing a group of 4 engineers to check the topic and submit a proposal.
Related: Wormhole wins second “temp check” to change into bridge for Uniswap
The LIFI CEO appeared to suggest that the present proposal must be voted down and the date of BNB Chain deployment postponed till no less than March 27. According to a picture posted by Zentner, the Uniswap group had beforehand set a deadline of March 27 for a “final report published with community recommendations.” Zenter stated that he believes this deadline can nonetheless be met, even when the present proposal is voted down.
Venture capital agency a16z just lately tried to make use of its 15 million UNI tokens to vote the BNB proposal down, because of the agency’s considerations about Wormhole bridge safety. However, Metamask developer ConsenSys has used its 7 million UNI votes to help the proposal. The vote is scheduled to finish on Feb. 10.
Content Source: cointelegraph.com
