The Uniswap community members are contending as well as jostling in order to update the latest norms on yield farming rewards, all of it for the Automated Market Maker’s (AMM) native token UNI.
All this clamoring is currently taking place because the initial liquidity mining program is on the tenterhooks for reaching its twilight zone on Nov 17.
Governance vote suggested
In order to continue farming, a governance vote has been actively suggested on the same four asset pairs namely, WBTC/ETH, USDC/ETH, USDT/ETH, and DAI/ETH. The proposal was a major suggestion, which came from Audius Strategy lead Cooper Turley and from the pseudonymous “monet supply” on Monday. Before the farming restarts on December 4th, the new proposal will have to pass through a series of tests in the form of governance polls.
New proposal
As per the new proposal, the UNI liquidity mining allocations would effectively become half of the previous original of 2.5 million UNI tokens which are provided per asset pool on a month-to-month basis. The initiation of farming rewards was first done in the month of September. This was planned and executed keeping in mind a two-month run which was followed by a surprise airdrop of UNI tokens especially for the developers of the AMM, its users, and the active investors.
Sushiswap in the picture too
As per CoinGecko, UNI is currently trading at $3.50. Uniswap has emerged as one of the biggest names in the crypto space today. Its TVL surpassed the $ 1 billion mark in September immediately after the platform introduced what is called the UNI rewards. As of Nov 11, the new TVL just broke the $3 billion mark and continues to pose a healthy project idea. Not to forget to mention that Sushiswap, the major competitor of Uniswap has also been rooting for Uniswap’s liquidity. It has also decided to forgo and discontinue the current staking pools. Along with it, it has also decided on reallocating the yields to the expiring pairs on Uniswap if and if the governance plans take a backseat and fail in execution.
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