The Uniswap community is currently holding the first vote, which is due to end on October 19. It is expected that the reduction in the thresholds required to present governance proposals and the quorum is expected.
In recent weeks, there has been a lot of discussion and criticism regarding the ongoing protocol management framework. A post from market intelligence platform Glassnode concluded that Uniswap’s central competitor, Binance, in its current setup, was able to make the governance proposal. While the last sentence refutes this claim, questions remain about the effectiveness of this structure.
Uniswap leadership currently requires interested parties to submit proposals to contain 1% of the total delegated UNI proposal, while a quorum is required to vote in its favor. Since UNI has 1 billion resources, these thresholds will be between 10 and 40 million tokens. At the current UNI price of $ 3.30, this equates to $ 33 million and $ 132 million in invested assets, respectively, which makes it difficult to reach a consensus.
The proposal made by Dharma, a protocol that promises junior crypto members with easy access to DeFi, suggests that the exposure threshold should be lowered to 0.3% (or 3 million UNI) and that the quorum limit be 3% (or 30 million) UNI. ). There are currently 30,270,543 votes in favor and 624,701 votes against the proposal, with six days remaining before the vote.
Meanwhile, Uniswap continues to dominate the DeFi world in terms of total withheld cost and switch volume.