• Binance has control of Uniswap
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    Binance has control of Uniswap’s ‘decentralized governance’ system: report

    The Uniswap team and Binance could both take control of the DeFi token’s “decentralized governance” system, powered by the UNI token

    Uniswap decided to decentralize its protocol governance to compete with the Sushiswap fork, but a new report suggests protocol control will remain centralized for quite a while. Crypto research firm Glassnode suggested in a Sept. 24 report that Uniswap’s governance decentralization will be for appearances only. In the paper, Glassnode explains that Uniswap’s UNI governance token was introduced as an answer to Sushiswap’s SUSHI governance token. The issuance of the decentralized finance (DeFi) token is presumably  a measure meant to ensure that the original protocol remains competitive against its newer fork. Still, the report claims that Uniswap’s  “transition toward token-based governance via the UNI token falls far short of true…