Unsiwap creator Hayden Adams has taken to crypto-twitter to source feedback on how the DEX should allocate its $500 million governance treasury.
With Uniswap’s native UNI token currently trading at $9.30 after rallying to break its previous all-time high of $7.10 last week, the vested share of Uniswap’s warchest is now valued at more than half a billion dollars.
“What are some of the most impactful ways governance can allocate this UNI?” Adams asked the community.
~$500M worth of UNI has already vested to the Uniswap governance community treasury out of $4b total (based on current price)
What are some of the most impactful ways governance can allocate this UNI?
— Hayden Adams (@haydenzadams) January 18, 2021
Adams received a variety of suggestions, including a request for a second UNI airdrop to recent Uniswap users, a call for 90% of Uniswap’s governance tokens to be burned, and tongue-in-check proposals for the funds be invested in hiring the “shilling” services of various Twitter-users.
Cihan Oztunc, product manager at the New York Stock Exchange, recommended Uniswap launch a VC firm to invest the treasury into promising new crypto projects:
Start a VC firm called “Uniswap Ventures” and invest that money into new crypto projects. Once that $500M becomes $500B, we can buy space shuttles and organize space tours for lucky uniswap users.
— Cihan (@cihan_oztunc) January 18, 2021
Meanwhile, Marquet exchange co-founder, Emiliano Bonassi, tweeted that Uniswap should invest in accelerating the development of Layer 2 scaling solutions.
DeFi commentator Samuel Shadrach asserted Uniswap should buy up a majority share of SushiSwap’s supply and try to force a merger between the two platforms.
That would be a big balls play lol. Buy up 51% of Sushiswap’s MC and force a merger of the two.
— Samuel Shadrach (@SamuelShadrach4) January 18, 2021
In September, Uniswap suddenly unveiled its native UNI token, with 43% of the token’s one billion supply retained by the project’s governance treasury for distribution over “an ongoing basis through contributor grants, community initiatives, liquidity mining, and other programs.”
In its four year token release cycle, the protocol will vest to the governance treasury on a continuous basis starting at 40% of the total allocation of 430 million UNI in the first year and reducing to 10%, or 43 million UNI by year four.
Title: Uniswap’s founder wants your advice on how to spend $500 million
Sourced From: cointelegraph.com/news/uniswap-s-founder-wants-your-advice-on-how-to-spend-500-million
Published Date: Tue, 19 Jan 2021 04:00:43 +0000