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
Other news
XRP Faces Key Resistance Levels Ahead
XRP price is approaching significant resistance levels that could impact future movements.
XRP Price Demonstrates Robust Ascending Trend.
XRP price shows strong upward momentum, consolidating gains and aiming for higher levels.
Bitcoin Price Sees Fresh Increase Above 64,500
Bitcoin price has started a fresh increase, clearing the 64,500 zone and showing potential for further gains.
Liberland Congress Removes Secretary of Technology Amid Controversy
The Congress of Liberland has voted to remove Dorian Stern Vukoti from his role as Secretary of Technology due to serious allegations including the removal of multisig protections and unauthorized actions.
Bitcoin ETFs See Major Inflows After Nearly a Month
Bitcoin ETFs have recorded their first major net inflow in almost a month, attracting a total of $859 million in capital yesterday.
SBF's Appeal Rejected by Second Circuit Court
Sam Bankman-Fried's appeal for a new trial in the FTX fraud case was denied by the Second US Circuit Court of Appeals, upholding his convictions and limiting his legal options.
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