dec 2, 2020 - Uni Swap, Harvard in Fin Tech :?

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Harvard Law BFI throws 10.5M votes behind own proposal to fund Defi lobby with UNI
It is not the first time Uniswap governance has been dominated by a whale.

The effect of whales on Uniswap governance is a topic of hot debate once again after Harvard's blockchain group threw a massive amount of voting power behind its own proposal.

The proposal, made on May 27 by the Harvard Law School Blockchain and FinTech Initiative, is for the creation of a fund that would finance existing and new political groups engaged in crypto policy making and lobbying to defend decentralized finance against regulation.

The proposed fund would have a chest of 1-1.5 million UNI, worth approximately $28 million to $42 million at current prices. At the time of writing Harvard Law BFI has pledged 10.46 million UNI tokens, or 99% of the votes, in favor of the proposal. There are just 766,460 votes against it so far.

Industry observer and critic of centralized governance, Chris Blec from DeFi Watch, was one of the first to comment on the heavily weighted voting mechanism.

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