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Home»ADOPTION NEWS»Uniswap Foundation Postpones Votes on Token Staking and Delegation Rewards, UNI Falls 8.7%
ADOPTION NEWS

Uniswap Foundation Postpones Votes on Token Staking and Delegation Rewards, UNI Falls 8.7%

By Crypto FlexsJune 1, 20242 Mins Read
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Uniswap Foundation Postpones Votes on Token Staking and Delegation Rewards, UNI Falls 8.7%
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Posted 1 minute ago In ~

The Uniswap Foundation, the organization that governs the decentralized exchange Uniswap, postponed the vote. UNI

-6.73%
Staking and delegation rewards are scheduled for Friday.

The postponement brought further attention as “stakeholders” discussed their concerns with the foundation. UNI’s price fell following the announcement.

“Last week we announced that the first proposal to enable Uniswap protocol governance will be deployed on-chain today,” the foundation wrote on social media platform “Due to the immutability and sensitivity of our proposed upgrade, we have made the difficult decision to postpone publishing this vote.”

“This was unexpected and we apologize for any delays. We will keep our community informed of any significant changes and update you when we have more certainty about our future schedule,” he added.

According to The Block Price, Uniswap’s UNI token was trading at $10.20 as of 2:00 PM (18:00 UTC) on May 31, after falling 8.7% over the past day.

Introduced in February, the offering aims to reward dedicated Uniswap holders and representatives for high levels of participation. To prepare for the originally scheduled May 31 vote, UNI holders were required to delegate their tokens to the platform before voting began, the Uniswap Foundation explained a week ago.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for publications covering all cryptocurrency-related news, preferring NFTs, metaverse, web3 games, fundraising, crime, hacking, and cryptocurrency ecosystem stories. MK holds a graduate degree from New York University’s Science, Health, and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. X You can follow MK at @MManoylov and on LinkedIn.

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