The indefinite delay is because of a “stakeholder raising an issue,” stated the Basis.
On a day full of 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 as we speak to improve the Uniswap protocol in order that its payment 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.
“Over the last week, a stakeholder raised a new issue relating to this work that requires additional diligence on our end to fully vet,” stated the Uniswap Basis on social media. “Due to the immutable nature and sensitivity of our proposed upgrade, we have made the difficult decision to postpone posting this vote.”
The Uniswap Basis didn’t instantly reply to a request for remark from The Defiant.
UNI was hit arduous by the information, dropping 7% to $10.21 as we speak. Nonetheless, the token continues to be up 44% up to now 30 days.
Uniswap’s payment change has been a level of rivalry through the years.
Folks 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 perform, often known as the “fee switch,” has by no means been activated.
Members of the neighborhood as soon as once more started to push for the activation of the payment change in 2023 and into 2024, with an preliminary vote slated for Might 31.
Sadly, UNI holders searching for to share within the success of the highest decentralized trade in crypto should proceed to attend. No timeframe has been disclosed for when the vote will happen.
