"We Want More Fees" These Token-Voters Say

Article source, here.

TL;DR

• In May, the Uniswap community voted on a proposal about whether or not to introduce fees for liquidity providers on the platform.

• In the end, 45.3% percent of token-votes supported the 'no fee' option, while the majority of voters (54.6%) supported having a fee - they just couldn't agree on how much it should be.

• Based on the Uniswap Foundation Executive Director’s Twitter, it sounds like the Uniswap Foundation now has the feedback they need, they will make a new proposal to be voted on, and there's every chance fees are coming to Uniswap.

Full Story

Have you ever spoken to a group of people who all use the same bank, and who want to pay more fees?

Neither! But that's kind of what's just happened with Uniswap.

Uniswap is the world's largest decentralized exchange (DEX).

Unlike a centralized exchange (e.g. Coinbase, Binance, etc.) which relies on a company for its governance, DEX's allow users to trade directly with each other, peer-to-peer, without the need for anyone in the middle.

But, through community votes, DEX's can still be changed/improved!

Which brings us to this story: In May, the Uniswap community voted on a proposal about whether or not to introduce fees for liquidity providers on the platform.

The idea being that Uniswap should charge fees like other exchanges to generate revenue that could then go back into improving the product.

In the end, 45.3% percent of token-votes supported the 'no fee' option, while the majority of voters (54.6%) supported having a fee - they just couldn't agree on how much it should be.

There were two options for fees: one-fifth or one-tenth of the pool fee.

Since the vote was split between those options, the 'no fee' option won out and there won't be any changes to Uniswap for now.

Uniswap Foundation Executive Director, Devin Walsh, said on Twitter that the poll had been for feedback purposes only, and was not part of a formal governance process.

Reading between the lines, it sounds like the Uniswap Foundation now has the feedback they need, they will make a new proposal to be voted on, and there's every chance fees are coming to Uniswap.

Happy Friday y'all.