{"id":30390,"date":"2020-10-20T17:47:59","date_gmt":"2020-10-20T14:47:59","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=30390"},"modified":"2025-08-27T22:03:07","modified_gmt":"2025-08-27T19:03:07","slug":"uniswap-community-fails-to-reach-quorum-in-first-ever-platform-vote","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/uniswap-community-fails-to-reach-quorum-in-first-ever-platform-vote\/","title":{"rendered":"Uniswap community fails to reach quorum in first-ever platform vote"},"content":{"rendered":"<p>The first-ever Uniswap vote on cutting the minimum threshold for submitting governance proposals failed to gather enough votes.<!--more--><\/p>\n<p>The vote closed on October 19 at 9:57 (GMT+3). To approve the proposal, it fell short by 403,241 of 40 million votes (1%).<\/p>\n<div id=\"attachment_113907\" style=\"width: 634px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-113907\" class=\"wp-image-113907 size-full\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/image1-337.png\" alt=\"\u0421\u043e\u043e\u0431\u0449\u0435\u0441\u0442\u0432\u043e Uniswap \u043d\u0435 \u043d\u0430\u0431\u0440\u0430\u043b\u043e \u043a\u0432\u043e\u0440\u0443\u043c\u0430 \u0432 \u043f\u0435\u0440\u0432\u043e\u043c \u0432 \u0438\u0441\u0442\u043e\u0440\u0438\u0438 \u043f\u043b\u0430\u0442\u0444\u043e\u0440\u043c\u044b \u0433\u043e\u043b\u043e\u0441\u043e\u0432\u0430\u043d\u0438\u0438\" width=\"624\" height=\"380\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/image1-337.png 624w, https:\/\/forklog.com\/wp-content\/uploads\/image1-337-300x183.png 300w\" sizes=\"auto, (max-width: 624px) 100vw, 624px\" \/><\/p>\n<p id=\"caption-attachment-113907\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/app.uniswap.org\/#\/vote\/1\" target=\"_blank\" rel=\"noopener noreferrer\">Uniswap<\/a>.<\/p>\n<\/div>\n<p>To bring the proposal to a vote, participants must hold at least 1% of UNI tokens (10 million), including delegated tokens. For its approval, a quorum of 4% of token holders (40 million) is required.<\/p>\n<p>The initiator of the vote is the Dharma landing platform, <a href=\"https:\/\/forklog.com\/en\/news\/uniswap-community-flags-centralisation-risks-in-new-governance-scheme\">which proposed<\/a> to reduce these requirements to 0.3% and 3% respectively.<\/p>\n<p>The head of Dharma Nadav Hollander called the outcome of the vote &#8216;disappointing&#8217;.<\/p>\n<blockquote>\n<p>&#8220;With an 85% turnout and overwhelming support, it was rejected,&#8221; he lamented.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">A disappointing outcome that demonstrates the impetus for the proposal in the first-place:<\/p>\n<p>Despite the vote having 85+% turnout (!), >95% support, with 272 voting FOR and 48 voting AGAINST, the vote still failed.<\/p>\n<p>There is a silver lining, though\u2026 <a href=\"https:\/\/t.co\/iXZgwxC5da\">https:\/\/t.co\/iXZgwxC5da<\/a><\/p>\n<p>\u2014 Nadav from Dharma (@NadavAHollander) <a href=\"https:\/\/twitter.com\/NadavAHollander\/status\/1318236754923540481?ref_src=twsrc%5Etfw\">October 19, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Hollander also saw a positive outcome for the community. He noted the growth of delegated UNI tokens from 47 million to 74 million.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">The vote seems to have galvanized users to delegate in much higher numbers \u2014 we are now at 74m UNI delegated (as opposed to the paltry 47m delegated at time of the initial proposal)<\/p>\n<p>This is a healthy outcome for Uniswap<\/p>\n<p>\u2014 Nadav from Dharma (@NadavAHollander) <a href=\"https:\/\/twitter.com\/NadavAHollander\/status\/1318236756735504384?ref_src=twsrc%5Etfw\">October 19, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In response to accusations of a hostile takeover attempt of Uniswap, the head of Dharma said that he is acting on the will of the delegates. He explained that if trust is abused, the votes he has received could be lost.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">5\/ If we behave in ways that are deleterious to Uniswap\u2019s future success, we will lose the goodwill and trust we\u2019ve built with our delegates and lose our votes \u2014 it\u2019s that simple.<\/p>\n<p>\u2014 Nadav from Dharma (@NadavAHollander) <a href=\"https:\/\/twitter.com\/NadavAHollander\/status\/1317905178251599872?ref_src=twsrc%5Etfw\">October 18, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Stani Kulechov, head of Aave, agreed with these arguments. He delegated UNI tokens belonging to the lending protocol to Dharma.<\/p>\n<blockquote>\n<p>&#8220;Reducing the degree of decentralization would be difficult in an ecosystem where that is placed at the forefront,&#8221; he explained.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Delegation is merely a mandate for a sentiment that exists. Creating less decentralized proposal would be difficult to pass in ecosystem where decentralization is the objective. I would bet that if exchanges start to vote on behalf their users, people will pull their funds out.<\/p>\n<p>\u2014 stani.eth \ud83d\udc7b ETHOnline Citizen (@StaniKulechov) <a href=\"https:\/\/twitter.com\/StaniKulechov\/status\/1317860654158614529?ref_src=twsrc%5Etfw\">October 18, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier in Uniswap decentralization, <a href=\"https:\/\/forklog.com\/en\/news\/glassnode-analysts-doubt-uniswaps-decentralisation\">Glassnode analysts<\/a> doubted.<\/p>\n<p>Some experts believe that governance token airdrops <a href=\"https:\/\/forklog.com\/en\/news\/opinion-governance-token-airdrops-do-not-threaten-defi-decentralisation\">do not threaten<\/a> the decentralization of DeFi projects.<\/p>\n<p>Subscribe to ForkLog&#8217;s channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The first-ever Uniswap vote on lowering the minimum threshold for submitting governance proposals did not gather enough votes.<\/p>\n","protected":false},"author":1,"featured_media":30391,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1983,1391,785],"class_list":["post-30390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dharma","tag-uniswap-uni","tag-voting"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=30390"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30390\/revisions"}],"predecessor-version":[{"id":30392,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30390\/revisions\/30392"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/30391"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=30390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=30390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=30390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}