Uniswap’s first governance vote fails ... despite 98% support
Cointelegraph
Published Oct 20, 2020 12:26AM ET
Updated Oct 20, 2020 02:00AM ET
The first governance vote for decentralized exchange (DEX) Uniswap has ended in failure, despite the proposal attracting overwhelming support of 98% of votes cast. Despite this, it fell roughly 1% short of the 40 million votes threshold needed for approval by the close of voting.
The poll ended earlier today with almost 39.6 million UNI staked in favor, compared to roughly 700,000 opposed. DeFi blogger Danger Zhang (‘@safetythird’) described the vote as “the DeFi equivalent of winning the popular vote but losing the electoral college.”
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Written By: Cointelegraph
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