DeFi project Uniswap is currently holding its second-ever vote on the new proposal. If passed, the proposal will see all wallet addresses that interacted with Uniswap DEX receive 400 UNI tokens. The proposal already attracted criticism, although there are almost 26 million users who are in favor of it.
Uniswap DEX is currently in the middle of a vote regarding its second-ever governance proposal, which revolves around distributing 5 million UNI in an airdrop. Voting will end tomorrow, October 31st, 2020, at around 8:53 AM GMT+1.
Uniswap’s second proposal vote is currently underway
As many likely remember, Uniswap’s community had its first major vote only recently, but unfortunately, it ended in defeat. Now, the second vote is underway, and if passed, the new proposal will see around 12,619 wallets which interacted with the project’s DEX receive around 400 UNI tokens per wallet.
In total, there are 5.05 million coins to be distributed to users of various wallets, including Argent, DeFi Saver, MyEtherWallet, Dharma, Eidoo, Nuo, Furucombo, and others.
The proposal comes from a lending and saving protocol Dharma, which is based on Compound. Dharma claims that its users have felt left out during the first UNI distribution, and a second airdrop would be a good way to change that.
The proposal was named “Retroactive Proxy Contract Airdrop — Phase One,” and the reason why the cohort of proxies was chosen is them being ‘less programmatically available.’ As a result, the likelihood of one user owning multiple addresses is significantly reduced.
What is Dharma planning next?
According to what is known, Dharma would like to put forward a secondary proposal, if this one manages to pass. That second proposal would be for retroactive distribution. Dharma also promises not to vote in favor of further retroactive airdrops, if both of these proposals end up passing.
At the time of writing, there have been 25,942,934 votes in favor of the proposal, and 1,266,340 against it. In order for the proposal to pass, there must be 40 million votes in favor of the move, which means that the proposal has around 24 hours to attract 15 million more votes in favor of the move.
The proposal has already attracted some criticism, however. Ameen Soleimani, the CEO of SpankChain, for example, stated that retroactive distribution would fail to create wealth for UNI holders. Meanwhile, most of those who would get the coins would likely sell it, leading to a negative price impact.
He also said that Uniswap needs to avoid such proposals in the future, and that this, even if it passes, needs to be the last fund recovery, ever.
