Uniswap

<div class="cryptonews">
 <p class="is-style-lead">Uniswap DAO has backed a proposal to <a rel="noopener noreferrer nofollow" title="invest" href="https://thebittimes.com/tag/invest.html">invest</a> 3 million UNI ($12 million) from its treasury into the decentralized exchange Ekubo in exchange for a 20% share of the governance token.</p>
 <p>Ekubo is a decentralized exchange on Starknet that has a value of $2.5m locked into its smart contracts, according to&nbsp;DefiLlama.</p>
 <blockquote class="wp-block-quote">
  <p>“We at Ekubo, Inc. believe this is a vitally important step in the decentralization of Uniswap protocol development, effectively onboarding the Ekubo team as core developers.”</p> <cite>Ekubo founder Moody Salem</cite>
 </blockquote>
 <p>The vote included 21 million UNI tokens in favor of the decision and 12 million UNI tokens against it. Therefore, 63% of the voting tokens supported this move. Five token holders received 97% of the votes in favor of this decision. In total, more than 3,500 votes were cast.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Uniswap to charge 0.15% swap fees in web app and wallet
 </div>
 <p>According to Salem, if the proposal passes the proper vote, 3 million tokens will be used to fund Ekubo’s operations as well as contribute to the Uniswap protocol.</p>
 <p>Additionally, Ekubo will create a governance token within one month of accepting the proposal, with 20% of its supply going to the Uniswap DAO treasury. Ekubo will control the remaining tokens and any potential distribution. The token will be native to Starknet. The proposal would also require a Uniswap license upgrade, which would give Ekubo a grant for unlimited use of Uniswap v4.</p>
 <p>Previously, the Uniswap crypto exchange introduced a commission of 0.15% for swaps in the web application and wallet. The developers promised to use all proceeds for the development of the platform.</p>
 <p>In addition, Uniswap users have discovered a new KYC function that can be implemented in the fourth version of the site update.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Short-term Uniswap (UNI) holders in loss as investors dump
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/uniswap-dao-supports-investing-12m-in-dex-for-20-stake-tbt68331.html">https://thebittimes.com/uniswap-dao-supports-investing-12m-in-dex-for-20-stake-tbt68331.html</a></p>

Uniswap DAO supports investing $12m in DEX for 20% stake

TheBitTimes

Other articles published on Oct 30, 2023

The Pros and Cons of Wallet Seed Phrases

The CEO of Ripple objects to remarks made by former SEC Chair Jay Clayton.

What Is Crypto Mining? Cryptocurrency Mining Types and Methods.

Hashflow (HFT) to unlock 74% of its circulating supply on November 7

PancakeSwap Adds Portfolio Manager function in Collaboration with Bril Finance

US Leads Global Action on AI Safety with Landmark Executive Order

Join our free newsletter for daily crypto updates!