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
Tier I
Sector: #18291
Sealed Hiding Place Room
Resource Cache
Tier I
Meme Cache
Tier I
Equipment Cache
Tier I
After collecting, hiding places will be stored in your inventory and can be opened with Keys.
Tier I
Sector: #18291
25%
50%
75%
100%
Tier II
Survivors rescued:
0 / 600
Survivors
0/0
Other news
Bitcoin's Long-Term Outlook Remains Encouraging
Bitcoin's established network and limited supply contribute to a positive long-term outlook despite recent declines.
Potential Recovery for Bitcoin Above Key Resistance Levels
Bitcoin could regain momentum if it surpasses critical resistance levels, with targets set at 81,300 and beyond.
Gate Reports Impressive Cold Storage Coverage Ratio
Gate's cold storage coverage ratio reached an impressive 104.58%, ensuring all user assets are secure.
Gate Launches Innovative Proof of Security Framework
Gate has launched a new asset security verification framework called Proof of Security (PoSEC), becoming the first digital asset trading platform to implement such a system.
US DOJ Launches Task Force to Combat AI Misuse
The US Department of Justice has launched a task force to combat the misuse of advanced artificial intelligence, ensuring American leadership is not compromised by bad actors.
Mercado Bitcoin Suffers Major Security Breach with $48 Million Stolen
Mercado Bitcoin has reported a significant security breach, with over $48 million in assets stolen across 11 blockchains. The breach occurred on November 2, 2023, challenging the exchange's claims of containment.
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