Altcoin
Top DEX Altcoin Uniswap (UNI) Drops in Price After Project Delays in Protocol Update
Uniswap’s native asset UNI It fell about 9% on Friday after the decentralized exchange (DEX) announced it was pursuing a major protocol upgrade.
The DEX had planned on Friday, launching an on-chain vote to implement a proposal that would allow a fee mechanism to reward UNI token holders who staked and delegated their tokens.
The update aimed to reduce the burden on Uniswap’s governance and maintain the “credible neutrality” of the protocol.
Last week, however, one stakeholder raised “a new issue related to this work that requires further diligence,” according to the report. Uniswap Foundation.
Explain the organization,
“Due to the immutable nature and sensitivity of our proposed update, we have made the difficult decision to postpone the publication of this vote. This was unexpected and we apologize for the delay. We will keep the community informed of any material changes and will update you all as we become more certain about future timing.
According to Uniswap, the most important DEX in terms of 24-hour trading volume and monthly visits CoinGecko.
Following the news, UNI fell from $11.04 to $9.86. The altcoin is trading near 24-hour lows and is trading at $9.93 at the time of writing.
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