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    Home News Bitcoin News

    UniSwap (UNI) Risks Falling Another 10% over Centralization Worries

    Andy K by Andy K
    October 16, 2020
    in Bitcoin News
    Reading Time: 2 mins read
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    UniSwap (UNI) Risks Falling Another 10% over Centralization Worries
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    UniSwap’s native cryptocurrency, UNI, is at risk of continuing its downtrend by another 10 percent as the decentralized exchange undergoes its first governance vote.

    Members of the UniSwap community claimed that whales with access to large quantities of UNI tokens are unanimously changing the network rules. The accusations followed the launch of the first proposal on UniSwap, dubbed as ‘Reduce UNI Governance Proposal & Quorum Thresholds,’ by Dharma.

    DeFi, UniSwap, UNIUSD, UNIBTC, UNIDeFi, UniSwap, UNIUSD, UNIBTC, UNI
    UNI whales, as highlighted by DeFi expert Chris Blec. Source: UniSwap
    UNI whales, as highlighted by DeFi expert Chris Blec. Source: UniSwap

    The DeFi trading and lending platform suggested reducing the current proposal submission threshold to 3 million UNI from 10 million UNI. The suggestion entered a controversy after one of the UniSwap community members, David Felton, accused Dharma of enjoying too much control over the project’s governance model.


    14 BTC & 95,000 Free Spins for every player, only in mBitcasino’s Exotic Crypto Paradise! Play Now!

    “Dharma, with its massive voting power of 15 million votes [in one address alone], already presents a threat to Uniswap’s sovereignty without this proposal, which will so powerfully entrench them in Uniswap governance they might as well just outright own the DEX,” –

    Read More From Original Source

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    Andy K

    Andy K

    Andy is a former Forex Trader who got involved in the crypto industry early January 2013. Since then Andy has been writing about cryptocurrencies and blockchain technology within various online crypto news publications. He is also one of the main contributors to Cryptotelegraph.com

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