Blockchain groups from major universities are powerful voters in defi-governance protocols – Bitcoin News
The data show that a number of groups from large universities are involved in decentralized financial management (defi). For example, out of 15 of the top voters in Uniswap’s latest governance proposal, six of the top voters were tied to universities like Harvard, Berkeley, Stanford, Penn, Michigan, MIT, and Columbia University.
Blockchain university groups identified as key players in defi-governance decisions
Just recently, messari.io researcher Jack Purdy tweeted about an interesting find he made while researching defi-governance protocols. Purdy’s recent tweet featured six prestigious universities that were recently involved in a voting process for a Uniswap governance proposal.
“Universities are among the most active participants in crypto governance,” Purdy said. “Of the 15 largest voters for Uniswap’s latest proposal, 6 were universities. That’s over $ 600 million of a useless governance token, ”he added.
Image shared by messari.io researcher Jack Purdy.
Of course, the participating voters are not necessarily official representatives of the universities, but groups of students participating in blockchain projects. The website withtally.com (Tally), a web portal that investigates systems of governance for cryptocurrencies, can be used to check whether Purdy’s tweet is factual or not.
Tally explores governance associated with projects such as Compound, Uniswap, Indexed, Fei, and Gitcoin. For example, Compound has 52 governance proposals, 1.72,000 eligible voters, and 41% engagement. Uniswap only has six governance proposals, 4.53,000 voters, and 18.62% engagement.
The website withtally.com (Tally) examines governance protocols used in certain Defi projects.
Uniswap proposals include a Defi Education Fund, which reduces the UNI proposal submission threshold to 2.5 million, and the Uniswap grant program v0.1. The Defi-Bildungsfonds was implemented with 79 million votes in favor of the fund and 15 million against.
Uniswap voting power and top supporter. Harvard Law Blockchain ranks fifth among the top voters using the governance system for Uniswap.
The proposal to lower the threshold for submitting UNI proposals to 2.5 million was also carried out with 14.4 million votes for the threshold and two million votes against the threshold idea. Harvard Law Blockchain is a top voter on Uniswap, according to Tally, and ranks fifth among the top Uniswap governance voters.
The list of top Uniswap governance voters includes Blockchain at Berkeley (11), Stanford Blockchain Club (13), Blockchain at UCLA (16), and PennBlockchain (20). Meanwhile, corporations and venture capital funds are a bigger part of Compound’s governance proposals.
Compound voting rights and top supporters. VCs hold the highest positions among the top voters using the governance system for Compound. University groups also participate in Compound’s governance vote.
Compound voters compete with firms like a16z, Polychain Capital, and Bain Capital Ventures. Despite the corporate units, university blockchain groups also participate in Compound’s governance system. University composite voters include Blockchain in Michigan, Blockchain in UCLA, Blockchain in Berkeley, Stanford Blockchain Club, and MIT’s Bitcoin Club.
Ishaan Hiranandani, a member of Blockchain in Michigan, stated that the attendees are mostly students. “[Blockchain at Michigan] is run entirely by students, although we have counselors in the room to help, ”said Hiranandani.
In today’s world of political bias against the destructive left-right paradigm, do people really want academics to rule Defi?
Not all were pleased to hear from the university groups involved in major defi-governance proposals, and some called university participation “twitch”.
“The last thing you want is to wake up, left-wing academics are ‘regulating’ your defi protocol,” said a Twitter account called Defimoon. “You also don’t want VCs with strong links to left-wing academic institutions with significant governance stakes in your preferred defi protocol,” the person added.
Not all, however, agreed with Defimoon’s stance, and some people vouched for widespread involvement in the Defi government. “I disagree,” a Twitter account called Defibrillator replied to Defimoon’s tweet. “Often these are student-led groups and in any case you cannot choose who is involved in crypto. Broad participation is a good thing, even if it offends your political bias. “
What do you think of all the university groups that vote on proposals on defi governance? Let us know what you think on this matter in the comments below.
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Photo credit: Shutterstock, Pixabay, Wiki Commons, withtally.com (Tally)
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