Lawyer: Uniswap's delayed voting is another example of how the DeFi protocol treats token holders as "second-class" citizens
2024-06-03 21:49:10
The Uniswap Foundation previously postponed a key vote on whether to upgrade the protocol's governance structure and fee mechanism to better reward holders of UNI governance tokens. While the foundation said the decision was "unexpected" and apologized for it, this is not the first time the vote has been delayed on whether to implement a "fee conversion" that would pass on a modest amount of protocol transaction fees to token holders. This is also not the only time the interests of token holders have come into conflict with other "stakeholders" of Uniswap. Crypto law expert Gabriel Shapiro believes this is another example of the DeFi protocol treating token holders as "second-class" citizens, with their wishes subordinated to a small group of stakeholders.
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