Decentralized governance is a great thing. Unless, of course, a few whales have enough tokens to pass on selfish offers.
It’s an argument put forward in a bid for a decentralized Uniswap exchange that would have provided analytics company Flipside crypto with $ 25 million in funding for more than two years. Uniswap and other decentralized financial protocols (defis), which facilitate the borrowing of cryptocurrencies, transactions and other transactions without traditional intermediaries, provide “management tokens” that allow people to bid and vote for functions and expenses.
Dune Analytics sounded the alarm as the proposal was due to go to a vote tonight. “grants should be given to community members, not service providers,” he tweeted.
Flipside’s proposal was that uni token holders would receive money from the protocol Treasury to donate through a $ 15 million grant. Assuming the program succeeds, the grant will be increased again by $ 10 million next year. Half of the funding will go to premiums—not premiums for bugs for hackers who find flaws in the code, but for new uniswap users who want to become analysts and learn to participate more effectively in the Defi protocol ecosystem. The goal was primarily to attract new users and secondly to keep them away.
He expected 900 new entrants with more Uni tokens to stay in the ecosystem rather than be paid.
The Flipside is that, among other things, it already funds similar programs for AAVE, desire and Uniswap. The offer would allow someone else to fund the service, but the offer states that other analytics providers such as Dune and the chart are also eligible.
So far everything has been going well. Or at least reasonably.
Uniswap community votes on $ 40 million bid for lobbying organization
However, the remaining half of the grant will be fully focused on the implementation of the program, including the full salary of seven employees and the partial salary of seven employees. It will then use yield spikes
