Top DEX Altcoin Uniswap (UNI) Price Falls After Project Delayed Protocol Upgrade
Uniswap’s native asset UNI fell about 9% on Friday after the decentralized exchange (DEX) announced that it had decided on a significant protocol upgrade.
The DEX planned to launch an on-chain vote on Friday to implement a proposal that would enable a fee mechanism that would reward UNI token holders for staking and delegating their tokens.
The upgrade aimed to reduce the burden on Uniswap governance and maintain the “trusted neutrality” of the protocol.
However, according to the Uniswap Foundation, last week a stakeholder raised “new issues that require additional efforts related to this work.”
describe the organization,
“Due to the immutable nature and sensitivity of our proposed upgrades, we have made the difficult decision to delay publishing this vote. This was unexpected. We apologize for the delay. “We will keep our community informed of important changes and provide updates as future dates become more clear.”
According to CoinGecko, Uniswap is the top DEX in terms of 24-hour trading volume and monthly visits.
After this news, UNI fell from $11.04 to $9.86. The altcoin is nearing its 24-hour low and is trading at $9.93 at the time of this writing.
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The post Top DEX Altcoin Uniswap (UNI) Price Drops After Project Delays Protocol Upgrade appeared first on The Daily Hodl.
