The big decentralized exchange Uniswap has announced an “unofficial community call” which is scheduled for November 12th at 5:00 pm UTC. The call to address several key governance issues for Uniswap, including the future of the liquidity mining program.
After a number of competing DEX clones attempted to distract Uniswap users with exorbitant native token rewards to liquidity providers during the DeFi boom, Uniswap retroactively released its native token UNI for users and started its own liquidity mining program in mid-September.
Uniswap’s current liquidity mining program is expected to end on November 17thA date has been set to discuss whether to expand the existing program or revise the plan. As part of the original program, a total of 5 million UNIs were given out to liquidity providers for the airdrop, equivalent to 83,333 daily tokens.
Many believe that UNI’s liquidity and airdrop rewards program has helped the exchange maintain its position as the DEX leader in the face of numerous “Vampire attacks. “However, the program may now have a negative impact on the price development of Uniswap government tokens. The rewards program sends over $ 260,000 in tokens daily at the current price of $ 3.13 each.
UNI started trading for around $ 3News of the liquidity mining program helped the rally soar to a high of nearly $ 8 within three days of the token’s launch. But still, UNI fell steadily from September 19 through early November, hitting a record low of $ 1.80 on November 5.
Some traders believe that the best thing for the Uniswap token is to stop the liquidity mining programand Twitter user “Tetranode” tells his 5,000 followers that the end of the liquidity premiums and the associated selling pressure would lead to a new phase of pricing for UNI:
Alpha in sight: In a week’s time, the pressure from Farm N against UNI will ease. The reduction of liquidity is stopped. It will then be interesting to see the pricing. This is financial advice. Guaranteed winnings or money back (any money you paid me anyway). pic.twitter.com/vyxH2Nvear
– Tetranode (@Tetranode) November 10, 2020
The community call is also intended to discuss the first two failed government proposals from Uniswap., Project governance processes and integrations with other hits from DeFi, Compound and MakerDAO.
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