The Uniswap Foundation announced on Friday that it is postponing a crucial vote on a protocol upgrade, which would have introduced rewards for UNI holders who staked and delegated their tokens. This decision came after a stakeholder raised a new issue that requires further investigation.
Foundation’s Statement
“Over the last week, a stakeholder raised a new issue relating to this work that requires additional diligence on our end to fully vet,” the Foundation stated. “Due to the immutable nature and sensitivity of our proposed upgrade, we have made the difficult decision to postpone posting this vote.”
Market Reaction
In response to the postponement news, Uniswap’s (UNI) price dropped by 8.75%, bringing it down to $10.20. The delay has caused significant concern among investors, leading to a noticeable decline in UNI’s market value.
Also Read: Uniswap to Vote on New Fee Mechanism Amid SEC Scrutiny
The postponement of the Uniswap protocol upgrade vote highlights the complexities and challenges in implementing changes within decentralized finance platforms. As the Foundation works to address the newly raised issue, the market will closely watch for further updates and potential impacts on UNI’s value.
