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Uniswap Postpones Protocol Upgrade Vote; UNI Tumbles 9%
The "fee-switch" vote was supposed to take place today.
The Uniswap Foundation Friday announced a postponement of a proposal upgrade vote that would have allowed rewards for UNI holders who staked and delegated their tokens.
"Over the last week, a stakeholder raised a new issue relating to this work that requires additional diligence on our end to fully vet," said the Foundation. "Due to the immutable nature and sensitivity of our proposed upgrade, we have made the difficult decision to postpone posting this vote."
STORY CONTINUES BELOW
Last week, we announced that the first proposal to activate Uniswap Protocol Governance would be deployed onchain today. Over the last week, a stakeholder raised a new issue relating to this work that requires additional diligence on our end to fully vet. Due to the immutable… https://t.co/g35pKG4UTA
— Uniswap Foundation (@UniswapFND) May 31, 2024
Uniswap's (UNI) is lower by 8.75% to $10.20 on the news.
This is a developing story. Please check back for updates.
Stephen Alpher
Stephen is CoinDesk's managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania's Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.
