Uniswap Foundation Delays Vote for Staking and Delegation Rewards, UNI Price Drops

• Uniswap Foundation delayed UNI staking vote due to stakeholder concerns.
• Postponement led to a 5.15% drop in UNI price to $10.14.
• Foundation cited need for additional diligence on proposed upgrade.
• UNI token traded at $10.20 after an 8.7% drop.
• Proposal aims to compensate Uniswap stakers and delegates for participation.
• UNI holders had to delegate tokens before May 31 vote.

Summary :
The Uniswap Foundation has delayed the vote for staking and delegation rewards for its UNI token. The postponement was prompted by concerns raised by a stakeholder, leading to further scrutiny. The Foundation explained that due to the sensitive nature of the proposed upgrade, they have decided to postpone the vote. They apologized for the unexpected delay and promised to keep the community informed of any changes. As a result of the announcement, the price of UNI fell by 5.15%. The proposal, introduced in February, aims to compensate dedicated Uniswap stakers and delegates for their participation. UNI holders were required to delegate their tokens before the voting went live to participate. The UNI token traded at $10.20, experiencing an 8.7% drop in the past day.

Sources :

- TheBlock