Uniswap experienced a setback as its native asset UNI faced a decline of approximately 9% on Friday following the decentralized exchange's decision to delay an important protocol upgrade. Originally, the DEX had scheduled an on-chain vote for Friday to push through a proposal introducing a fee mechanism to incentivize UNI token holders who have staked and delegated their tokens. The upgrade's purpose was to ease the burden on Uniswap Governance and preserve the protocol's impartiality. However, a stakeholder highlighted a critical issue necessitating further scrutiny, prompting the Uniswap Foundation to postpone the vote. The Foundation acknowledged the unforeseen nature of the delay and pledged to update the community on any significant developments when more clarity is obtained.
Uniswap's Native Asset UNI Price Dip Due to Delay in Protocol Upgrade
by Giorgi Kostiuk
2 years ago
Made with AI
Other news
China's New Digital Payment System Aims to Challenge US Dollar
China is developing a digital payment infrastructure to facilitate cross-border trade without relying on the US dollar, aiming for dedollarization and financial sovereignty.
Emergence of New Luddite Movement Against AI Data Centers
Tennessee state Rep Justin Pearson has emerged as a leading voice in the New Luddite movement, advocating for moratoriums on data centers and stricter oversight of AI technology.
Nationwide Protests Against AI Data Centers Lead to Arrests
At least 37 individuals have been arrested during protests against AI data centers across the United States this year.
Coinkite's Technical Analysis Reveals Coldcard Vulnerability
Coinkite published a technical backgrounder explaining the vulnerability that led to the Bitcoin theft from Coldcard wallets.
Cardano ADA Sees Notable Price Surge.
Cardano ADA has experienced a significant price rally, with a 62% increase in the last 24 hours, driven by community support and whale accumulation.
Bitmine Immersion Technologies Increases Its Ethereum Assets.
Bitmine Immersion Technologies has purchased an additional 10,399 ETH, bringing its total to 5,797,813 ETH.
Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter