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Uniswap Approaches New UNI 5 Million Airdrop
30 October 20200132

The second governance proposal for the Uniswap Decentralized Exchange (DEX) is more than halfway to achieving a quorum with just over 30 hours.

Uniswap, a new airdrop
If passed, the proposal will see 12,619 wallet addresses that have interacted with Uniswap through a proxy contract receiving 400 UNI tokens each. A total of 5.05 million UNI will be allocated to users of MyEtherWallet, Argent, Dharma, DeFi Saver, Nuo, Eidoo, Opyn, Furucombo, Monolith and Rebalance.

New to DeFi, this is for the explanation => DeFi explained

The proposal was presented by the Dharma Compound Loan and Savings Protocol. Who claimed that its users felt "left out" by the initial distribution.

The agent cohort was chosen because it is “less accessible by program”. Which suggests "a lower probability of having multiple addresses per end user."

“THE DETERMINATION OF THE PHASE WAS DONE BASED ON HOW EASY IT IS TO CONNECT A TRADING ROBOT PER PROGRAM. BECAUSE THIS IS A PROXY FOR THE PART OF THESE COHORTES. WHICH MAY REPRESENT SEVERAL ADDRESSES PER END USER. "

The voting deadline is approximately 8:00 a.m. UTC on October 31.

If the vote passes, Dharma plans to come forward with a secondary retroactive distribution proposal. "If both phases pass, we will not vote for more retroactive airdrops," Dharma noted.

Voting seems to be steadily gaining ground. The number of votes in favor has increased by around 25% in the last few hours. To reach 25.93 million, against 1.26 million votes against. A quorum of 40 million votes in favor must be submitted to adopt the proposal.

The quorum will you wait this time
However, the first vote on Uniswap governance, also proposed by Dharma, recently failed. Due to a lack of quorum on the deadline. Only 1% despite 98% of the votes cast in favor of the proposal.

Although the number of opposing votes is low, several analysts have suggested that a large segment of the community may have opposed the proposal by abstaining in the vote.

The second proposal was also rejected. SpankChain CEO Ameen Soleimani criticized the retroactive distribution for failing to "create wealth for UNI holders." All while withdrawing the funds from the project treasury. That could be allocated elsewhere. And by giving the tokens "to people who will likely sell their perceived Uni." Which will probably have a slight negative impact on prices. "

Despite his qualms, Soleimani admitted he would vote in favor of the proposal. If this was "the last absolute fundraising." Warning that Uniswap must "avoid these kinds of governance quagmires" in the future