- The Foundation stated that a “stakeholder raising an issue” is the reason for the indefinite delay.
The Uniswap Foundation declared that it was postponing a crucial vote to update the protocol’s governance structure on a day that was full of uncertainty.
The Foundation had predicted last week that a vote to upgrade the Uniswap protocol would happen today, allowing its fee mechanism to compensate holders of UNI tokens who have staked and delegated their tokens.
One of the longest running stories in DeFi has been put on hold while that vote is postponed.
The Uniswap Foundation posted on social media, “Last week, a stakeholder brought up a new issue related to this work that requires additional diligence on our end to fully vet.” We have decided to delay posting this vote due to the immutable nature and sensitivity of our planned change.
The news took a serious toll on UNI, which fell 7% to $10.21 today. The token has still increased 44% over the last 30 days, though.
Concerning the years, there has been disagreement concerning Uniswap’s charge switch.
Since the debut of Uniswap V2, the second version of the protocol, in May 2020, many have been asking this subject. The “fee switch” function, which was part of the V2 code, was supposed to record.05% of trading volume, but it has never been used.
The community started advocating for the fee switch to be activated in 2023 and 2024 once more, with a May 31 first vote scheduled.
Regretfully, holders of UNI will have to wait longer if they want to benefit from the success of the leading decentralized cryptocurrency exchange. The date and hour of the vote have not been announced.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
