The indefinite delay is because of a “stakeholder elevating a difficulty,” mentioned the Basis.
On a day stuffed with uncertainty, the Uniswap Basis introduced it was delaying a key vote to improve the protocol’s governance construction.
Final week, the Basis anticipated {that a} vote would happen right now to improve the Uniswap protocol in order that its price mechanism can reward UNI token holders who’ve staked and delegated their tokens.
That vote has been postponed – and one of many oldest sagas in DeFi drags on.
“During the last week, a stakeholder raised a brand new situation regarding this work that requires extra diligence on our finish to totally vet,” mentioned the Uniswap Basis on social media. “As a result of immutable nature and sensitivity of our proposed improve, we’ve got made the troublesome determination to postpone posting this vote.”
The Uniswap Basis didn’t instantly reply to a request for remark from The Defiant.
UNI was hit laborious by the information, dropping 7% to $10.21 right now. Nevertheless, the token continues to be up 44% prior to now 30 days.
Uniswap’s price swap has been a level of competition through the years.
Individuals have requested this query since Uniswap V2, the second iteration of the protocol, was launched in Might 2020. V2 included code to seize .05% of buying and selling quantity, however that operate, often known as the “price swap,” has by no means been activated.
Members of the neighborhood as soon as once more started to push for the activation of the price swap in 2023 and into 2024, with an preliminary vote slated for Might 31.
Sadly, UNI holders looking for to share within the success of the highest decentralized alternate in crypto should proceed to attend. No timeframe has been disclosed for when the vote will happen.
