The Uniswap community apparently opposes a new proposal that promotes $ 25 million worth of Flipside Crypto. Funding is provided for two years – and the arguments against it are numerous.
Many DeFi protocols, such as Uniswap, offer governance tokens that allow participants to participate in central decisions in their network.
The most recent proposal also went to the votes of the Community. But before the vote on the proposal could be completed, Dune Analytics sounded the alarm.
The Flipside Proposal
The proposal provides for UNI holders to receive $ 15 million in grants from the project’s treasury. If the entire program is successful, another $ 10 million will go to Flipside next year.
Accordingly, Flipside will invest half of the grant in rewards for new Uniswap users who want to learn all about analytics and DeFi as a whole.
The aim of the rewards is to attract and retain new users. Flipside assumes that such a program will be able to attract 900 new members who will not pay out the bonuses, but will remain in the network.
This is not the first such program to fund Flipside. It also funds others like Yearn or Aave. Another point is that this proposal would allow people to fund the service. Other providers of analytics services that are eligible include The Graph and Dune.
Flipside wants to use Uniswap governance for education services
According to the application, Flipside will use half of the grant for the operation of the program. They will pay up to seven employees a full salary and seven more a half salary from the grant. The proceeds from the programme will then be used for financing.
Flipside also intends to use Uniswap’s governance process to become an official provider of continuing education services. It also expects payments for these services. In addition, the seven members of the committee will generate 30% of the funds received themselves.
The Uniswap community criticizes the new proposal
A further three-member committee will vote on the continuation of the programme for another year. All the committees are from Flipside, which gives the company total power. Given such a structure, many people have expressed concerns about the proposal.
Before this controversy, there was already one in July, which caused a lot of turmoil in the community. The DeFi Education Fund proposal and its controversy prompted another group to launch an initiative – LeXpunK’s Builder-First Legal Activism DAO.
Many people voted against the proposal after Dune Analytics sounded the alarm. Many agreed that the proposal was not in order-including Compound CEO John Palmer of PartyDAO and the wallet teams of Dharma & Argent.
However, it seems that it is not so easy to delete the proposal. The people who support him the most are the university blockchain organizations, since it is training.
In addition, many of the top organizations in Standford, UC Berkeley, Michigan and Penn have pledged their support. So it will be very difficult to cancel the application.
Text credits: Newsbtc
Last updated on August 23, 2021
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