Uniswap ‘Fee Switch’ Pilot May Take-Off Soon



  •  Three million votes have favoured the pilot, and around 46 UNI votes are against the pilot.

A recommendation to change the fees imposed by decentralized crypto exchanges Uniswap got approved with huge support from the Uniswap community government.

The voting period for consensus check to launch the pilot version of fees imposed has started. 

The proposal of testing parameters has been set at 1/10 or 10 percent of specified liquidity pools, which means that a fee of 10% will be imposed on that percentage of the specified pool that the lowest part of a pool allows. 

Pools selected for a pilot will include 0.05% DAI-ETH,0.3% ETH-USDT,and 1% USDC-ETH. 

The value earned from the pilot will stay in the protocol until the Uniswap government agrees and directs where these funds will be assigned; more details of the process have not yet been provided.

The voting on implementing the pilot program started on August 4 and will conclude on August 9 at 6 pm. Per a report, three million votes have favoured the pilot, and around 46 UNI votes are against the pilot.   

Even though a leading majority of the Uniswap Government is favouring pilot projects, not all the members are favouring the project and upcoming opportunities of the project.   

A member of the Uniswap community Brian Park who is using BJP3333, mentioned in his statement that implementing changed fees will damage the position of Uniswap in the highly competitive DEX market.  

 Brian Park said, “Let’s not be so complacent about this advantage where it will now look to monetize fees at the expense of liquidity providers,” adding more park mentioned, “Dip into their profit margin, which could see them go by the time DEX(Decentralized exchange)space is very competitive.”

While writing this price of Uniswap was recorded at $9.02; one year back, the price of Uniswap was around $26.  

Related Posts

Ethereum Merge Attracts Institutional Investors

ETH Price at the time of writing – $1,708.65 The Merge aims to eliminate the energy-intensive mining process ETH Market Cap – $208,138,530,752 The planning of the…

What The Impending Triple Halvening Means

There can be a yearly reduction in ETH issuance from 4.3% to 0.4% EIP-1559 was the Ethereum upgrade that removed a third of all transaction fees Withdrawals…

Cleanspark Acquires Plug-in-Ready Bitcoin Mining Facility

BTC Price at the time of writing – $23,093.05 The crypto asset’s hashrate slipped 1.7% lower in Q2  The new facility has the capacity to host up…

 Nuri, The German Crypto Bank, Has 500K Users Files For Insolvency

Nuri stated that it has been facing a lasting strain on its business liquidity The reason is – significant macroeconomic headwinds and the cooling down of public…

Iran Makes $10M Import With Crypto

No Result View All Result © Copyright 2022. The Coin Republic Are you sure want to unlock this post? Unlock left : 0 Yes No Are you…

 Virtual Malibu Mansion Built And Owned By Paris Hilton

OG crypto sovereign Hilton is reinforcing her Web3 presence Sandbox provides a creative space that allows anyone to let their imagination come to life Paris World will…