UNISWAP, the world’s largest decentralized exchange, has conducted its first community KL, primarily to discuss which direction to take when UNI farming ends on November 17.
But the call ended without any clear direction from UNICEF and no proposal has been put forward to increase UNI farming or start a new pool, so there could be a lot of instability in space next week.
Aniswap has been operating four ETH-based liquidity bridges since September 17, with 583,333 UNIs per pool per week. Receives. With a total of 4 4.4 billion in collateral injections, DX has moved to the top of Defy’s list based on total value locks, but those incentives are about to expire.
The fear among UNI holders is that if users withdraw liquidity and sell previously mined UNIs when the incentives dry up, prices will soon fall. In the long run, a reduction in the new UNI could help prices. UNI prices have made a slight return to the top of 3 in the past week.
There are also concerns that up to 1.1 ETH worth billions of dollars These four pools could be withdrawn or sold or reinvested in ning nch income incentives. ETH rallied when UNI started farming, so it could be the opposite when it comes to an end.
1/17 November, UNI Farming will come to an end.
Now ~ 3 2.3bn in funding from UNI. Arranging farming with $ ETH The reference is a token.
This means that currently TH $ 1.1bn ETH is up, about to be released into the wild.
Where do you think ETH will go? pic.twitter.com/nW3via0vH6
– Wangerian (@ Wangerian 1) November 11, 2020
The community call was hosted by Monet Supply, a member of the Uniswap team. It began with a compounding of recent regime issues, but swift action was taken toward the burning issue of what would happen when liquid mining ended on November 17th.
Thank you to everyone who participated Liked Call the community today!
For those who missed it, here are the video and chat lags of the event:
. Https://t.co/cdSg53yGgP
https://t.co/uMDWKa2PJ0If anyone is interested in creating a transcript, please get in touch!
– monetsupply.eth (@ MonetSupply) November 13, 2020
Crypto podcaster Matt Aaron asked about the internal discussions surrounding this date to prevent another ‘vampire attack’ like the Sushiswa incident, in which Chloe was given a big boost to remove the liquid from Uniswap. Aaron was concerned about the liquidity of leaving the protocol and asked how he would encourage users to stay there once the awards dried up.
Matteo Libobitz, the unspoken head of strategy, gave a far-fetched response, adding “no comment”;
“Any decisions on liquidity mining will have to be made by community members instead of the UNISWP team.”
0x Maki of Sushiswap, who was also part of the call, said that if you have a subsidy or incentive for liquidity on the platform, someone will have to pay for it, and in this case they are UNI token holders.
“If you look at DX’s statistics, Uniswap is leading the way in a unique number of traders and I can trust that this has nothing to do with the liquidity mining program.”
It sees no threat from other protocols trying to subsidize their system to move forward.
Realizing there were no definitive answers to the issue of liquidity farming, the discussion quickly moved towards Etherium Layer 2 Uniswap V3 and consolidation, but again, Leibobitz was not giving anything while inquiring, maintaining that he was just an observer.
Some potential new liquidity bridges were discussed in the chat with the video call, but when the four farms $. There were no definitive answers as to what would happen when the billion billion dollar approached.
In a concrete Development Coming out in the last 24 hours, it looks like Marvin Ammori, General Counsel of Protocol Labs, has joined UNISWAP as his Chief Legal Officer. One of the space’s most high-profile lawyers, he advised President Obama on net neutrality and also the TV show Silicon Valley.
A number of legal issues were discussed on the community call and it now appears that there is a person for the job at Uniswap.
