Uniswap Community To Distribute 5 Million Airdropped UNI Tokens
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Uniswap Community To Distribute 5 Million Airdropped UNI Tokens

October 30, 2020      Jafrin Ahmed

Uniswap’s second governance proposal will distribute airdropped UNI tokens to over 12,619 wallet addresses with 400 tokens each. The concerning wallet addresses will receive 5 million UNI token airdrops that interacted with Uniswap through a third-party interface.

Third-parties Interacted With Uniswap For Free UNI Tokens

The interaction with Uniswap was done using a third-party software that enabled contacting Uniswap through a proxy contract in a way that the wallets were visible to Uniswap. The third-party Dapps includes MyEtherWallet, Argent, Dharma, DeFi Saver, Nuo, Eidoo, Opyn, Furucombo, Monolith, and Rebalance.

As of the publication time, the number of votes seems to be going upwards at a rough 25% increase to 25.93 million in comparison to the 1.26 million votes against. A total of 40 million votes in favor are needed to pass the proposal. Voting lines will close at 8:00 am UTC on October 31.

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The idea to put forward Uniswap’s second governance proposal can be credited to Defi-based lendings and savings protocol Dharma.

The startup claims that users might have felt “left out” by the initial token distribution due to its inaccessibility, saying “The Phase determination was made based on how easy it is to programmatically hook a trading bot into them, as this is a proxy for what portion of these cohorts risk representing multiple addresses per end-user.”

Dropping Tokens For Missing Out On Techinalities

Dharma told Cointelegraph that if the votes pass, it will plan on a secondary proposal for retroactive distribution, “Should both Phases pass, we will not vote in favor of any further retroactive airdrops.”

Uniswap’s first governance vote was also initiated by Dharma. However, it could not be a success due to falling short by only 1% votes despite 98% votes cast in support of the proposal. The intention of the current proposal includes handing out airdrops that users might have missed out due to technical issues.

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Even though opposing votes are showing a considerably low result, its critiques views that a large portion of community might have opposed the proposal by abstaining themselves from voting.


#Airdrop #DeFi #DEX #Governance proposal #UNI #Uniswap
Jafrin Ahmed
Jafrin Ahmed

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.