Daniel Kuhn is a deputy managing editor for Consensus Magazine. He owns minor amounts of BTC and ETH.
on whether to upgrade the protocol’s governance structure and fee mechanism to better reward holders of the UNI governance token. The nonprofit cited concerns from a “stakeholder,”Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
Although the foundation said the decision was “unexpected” and apologized for the situation, this is far from the first delay to a vote on whether to engage the “fee switch” that would direct a modest amount of protocol trading fees to token holders. It is also far from the only time that the interests of token holders have seemingly been at odds with those of other “stakeholders” in Uniswap.
Version 2 of Uniswap contained code that would enable the 0.3% of trading fees paid to liquidity providers to be split, with 0.25% going to LPs and the remaining .05% to UNI token holders. But the “fee switch” was never activated.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Uniswap Foundation postpones vote on incentivesThe Uniswap Foundation has delayed the vote on UNI staking and delegation rewards due to a stakeholder's concern, prompting a thorough review. The delay raises questions about decentralized governance and potential US securities law violations.
Read more »
Uniswap Foundation delays vote for token staking and delegation rewards, UNI falls 8.7%The postponement was due to a 'stakeholder' discussing concerns with the Foundation that prompted more attention.
Read more »
Uniswap Foundation Shares Balance Sheet as Fee Vote NearsThe Uniswap Foundation's balance sheet shows $41.41 million in fiat and stablecoins and 730,000 UNI tokens.
Read more »
Uniswap reveals assets ahead of fee mechanism voteUniswap Foundation discloses $41.41 million in fiat and stablecoins, and 730,000 UNI tokens. On-chain voting for a new fee mechanism will occur by May 31, marking a milestone in decentralized governance.
Read more »
A vote against Trump is a vote for a banana republicVoting for Donald Trump is now about protecting the integrity of the judicial system after a travesty of justice in the hush money trial.
Read more »
Most House Democrats Vote to Allow Illegal Aliens to Vote in D.C. ElectionsSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »