Users suggest that the decentralised values were undermined by the anonymous VC firm’s actions, which revealed its enormous influence. This might be viewed as a mistake. The much awaited vote for UNI staking and delegation incentives on Friday, March 31 has been postponed by the Uniswap Foundation, the body in charge of the decentralised exchange Uniswap.
The decision-making process was delayed when the foun used an X post to postpone the vote in response to a stakeholder’s concern. This allowed for a more in-depth analysis and inspection of the proposal.
The vote would have brought the decentralised exchange one step closer to turning on its “fee switch” and rewarding holders of UNI tokens for staking and delegating their tokens. Erin Koen, the lead official in charge of the Uniswap DAO governance forum, stated in a post on the forum that the planned upgrade needs careful consideration because it is sensitive and final, stressing the significance of doing so before moving forward.
Although prior attempts to enable a fee flip have been on hold because of worries about possible violations of U.S. securities laws, the Uniswap DAO has been investigating the prospect of doing so for a number of years. As a result, this problem has been approached cautiously and progress has been delayed.
Dan Robinson, a partner at the cryptocurrency venture capital firm Paradigm, voiced his disdain of the Uniswap Foundation’s decision to reschedule the vote and charged that they gave in to pressure from an unidentified other venture capital business.
Another person remarked on the irony of the circumstance and questioned whether the delay didn’t call into question the viability of a decentralised governance structure. They suggested that the decentralised values may have been compromised by the unidentified VC firm’s actions, which had exposed its substantial influence.
The most recent proposal was presented by the Uniswap Foundation in February and has the approval of the community based on an advisory vote that was held earlier this year, also referred to as a “temperature check.” The Uniswap Foundation clarified a week before to the vote that UNI holders needed to assign their tokens on the platform before the voting went live in order to be ready for the originally planned May 31 vote.
The Uniswap Foundation has revealed that as of the conclusion of the first quarter, it had 730,000 tokens and $41.41 million in fiat and stablecoins. The Foundation said in a publication that it awarded $2.79 million in previously pledged funds and committed $4.34 million in new awards during this time.