With the Uniswap governance fund now worth over $500 million, creator Hayden Adams asked the community for suggestions on how to spend it.
Uniswap Founder Wants His Advice on How to Spend $500 MillionNOTES
Unsiwap creator Hayden Adams used crypto-twitter to get feedback on how DEX should allocate its $500 million governance fund.
With the native Uniswap UNI token currently trading at $9.30 after rallying to break its previous record of $7.10 last week, the portion acquired from the Uniswap governance fund is now valued at over half a billion dollars.
„What are some of the most striking ways in which governance can allocate this UNI? Adams asked the community.
Adams received a variety of suggestions, including a request for a second UNI airdrop for recent Uniswap users, a call for 90% of Uniswap governance tokens to be burned, and verification proposals for funds to be invested in hiring the „shilling“ of services from various Twitter users.
Cihan Oztunc, product manager for the New York Stock Exchange, recommended that Uniswap launch a venture capital firm to invest the fund in promising new cryptomime projects:
Meanwhile, exhange Marquet co-founder Emiliano Bonassi urged Bitcoin Profit Uniswap to invest in accelerating the development of second tier escalation solutions.
DeFi commentator Samuel Shadrach said Uniswap should buy most of SushiSwap’s stock and try to force a merger between the two platforms.
In September, Uniswap suddenly revealed its native UNI token, with 43% of the one billion token stock retained by the project’s governance fund for distribution „on an ongoing basis through taxpayer subsidies, community initiatives, liquidity mining, and other programs.
In its four-year token release cycle, the protocol will be allocated to the governance fund on an ongoing basis, starting with 40% of the total allocation of 430 million UNI in the first year and reducing to 10%, or 43 million UNI in the fourth year.