It’s a go! Uniswap Foundation becomes reality after 86M votes in favor

Walsh mentioned that the UF had already “hit the ground running”, and has actually been able to address its leading concerns such as speaking with “talented, worths aligned candidates” for the group, scaling up UPG, and “revitalizing government.”

Our proposition to create the Uniswap Foundation was authorized last night! https://t.co/B2VOAeg5is
Devin Walsh (@devinawalsh), August 24, 2022

According to the Uniswap Foundation job board, they are trying to find employees to join their team. These include Community Lead and Partnerships Lead, Governance Lead and Governance Lead. Grants Analyst and Leads, Communications and Finance Leads, Developer Relations and Protocol Leads are some of the positions available.

After receiving over 99% votes from UNI token holders, the $74 million strategy of two ex-Uniswap Laboratory executives to produce a brand-new Uniswap Structure is now a truth.

Devin Walsh, a former executive at Uniswap Labs, shared the results through Twitter on Aug. 24, noting the truth that the proposition to develop the structure had “passed its last vote!”

According to the Uniswap site the structure received more than 86million votes, which is 99% of all votes, and only 770 votes versus the proposition. In spite of the blended neighborhood reaction to the original proposal, which was announced Aug. 5, votes were cast in favor.

The foundations initial proposition specified that it aims to simplify Uniswaps Grant Program (UPG), and to minimize friction in the protocols governance system.

Votes were cast through Uniswaps mobile app. To pass the vote, a limit required of 40 million votes in favor of UF.

Are you decentralized?

Another member of the community recommended that the vote outcome was “whale-run”, with the leading 20 addresses voting using 81.57 million tokens, or 99.7%, to choose the proposition.

The UF plans to disperse $60 million to Uniswap Grant Programme (UGP), and the staying $14 millions to cover its operating expense.

The Uniswap DAO, which is also a joke regarding decentralization theater is not exactly assisting your argument. They have $3.6 B in UNI (biggest DAO in AUM). Usually, it is the DAO that figures out how funds are used and not a central structure.
— ChainLinkGod.eth August 20, 2022 (@ChainLinkGod).

Uniswap is by trading volume the largest decentralized exchange (DEX). Because its beginning, Uniswap has actually been supporting more than $1 trillion cumulative volume. It often completes with Coinbases everyday volume.
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Despite the overwhelming assistance for the UF, numerous on Twitter are questioning how much control the community has over Uniswap decisions.

Walsh and Ken Ng, Head of Operations, strategy to develop a team with 12 people. They have asked for $74million from the Uniswap decentralized autonomy organization (DAO treasury), which currently has more than $3 billion in UNI tokens.

Chainlink Community Ambassador, “ChainLinkGod”, who has 150,200 Twitter followers, stated that Uniswap needs to have a decentralized self-governing organization (DAO), which would “determine how funds are utilized” instead of a centralized structure.

According to the Uniswap Foundation task board, they are looking for employees to join their group. Uniswap is known for passing all authorized propositions. Today, the community voted in favor of US$ 74mn to fund the Uniswap Foundation.

Uniswap is understood for passing unanimously approved propositions. Today, the neighborhood voted in favor of US$ 74mn to fund the Uniswap Foundation. But … US$ 74mn is a great deal of cash … and was it truly the community that voted this in?https:// t.co/ BeavvElVK3.
— Ishita Srivastava (@ishita7077) August 24, 2022.

Votes were cast through Uniswaps mobile app. To pass the vote, a limit needed of 40 million votes in favor of UF.

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