Uniswap Foundation Will Hold Off on Voting on UNI Staking and Delegation Rewards for the Time Being

There were incentives for UNI tokenholders who staked and delegated their tokens, and the decentralized exchange was hoping to activate its “fee switch” with this vote.

There will be a vote on UNI staking and delegation incentives on May 31, but the Uniswap Foundation, which runs the decentralized exchange Uniswap, has decided to delay it.

X announced the delay, saying that a stakeholder’s worries were to blame. There was a holdup in reaching a judgment since this sparked a more comprehensive evaluation of the idea.

There were incentives for UNI tokenholders who staked and delegated their tokens, and the decentralized exchange was hoping to activate its “fee switch” with this vote.

In a forum statement, Uniswap DAO governance forum head official Erin Koen stressed the need for careful evaluation of the planned update before moving forward, saying that the change is sensitive and irreversible, therefore requiring extensive testing.

Concerns over possible breaches of U.S. securities laws have prevented the Uniswap DAO from moving forward with earlier plans to enable a fee flip, which they have been investigating for a number of years. Because of this careful approach, the problem has stalled.

Someone other brought out the irony, wondering whether the delay casts doubt on the concept of decentralized government.

Their words suggested that the unidentified VC firm’s deeds had shown its substantial influence, casting doubt on the decentralized principles.

After receiving positive feedback during an advisory vote (or “temperature check”) earlier this year, the Uniswap Foundation proposed a new proposal in February that aims to resolve prior issues.

According to what the Uniswap Foundation indicated a week ago, UNI holders were required to delegate their tokens on the platform prior to the voting being live on May 31, which was the original intended date.

During this time, the Foundation dispersed $2.79 million in allocated funds and pledged $4.34 million in new awards, as stated in a Foundation article.

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