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Uniswap’s Creator Asks Community On How To Spend $500 Million

Uniswap

Hayden Adams stands as the creator of Uniswap, and has made a very interesting request for Twitter’s crypto community. His aim with this request is to gain feedback as to what Uniswap should do with its governance treasury, worth a staggering $500 million.

Price Rise Causing Massive Increase In Treasury

As it stands now, the UNI token, the native token for Uniswap, is trading at around $9.30 apiece. This comes after the coin managed to successfully rally past its previous all-time high of $7.10 just last week. As a result of this, Uniswap’s war chest had now seen a significant increase in value, and is currently worth half a billion US dollars.

Now, Adams is asking the crypto community what should be done with this massive holding. In particular, he is asking Crypto Twitter to show him what’s the best possible course of action regarding this war chest allocation.

Many Interesting Suggestions

As one would imagine, Adams had received a large amount of colorful suggestions from crypto Twitter. Suggestions ranged from burning 90% of these governance tokens, to handing out another UNI airdrop for new users, to sarcastically suggesting to use it for “shilling” services from various prominent personalities.

The entire event even brought in some prominent names, such as one Cihan Oztunc, the New York Stock Exchange’s Product Manager. Oztunc speculated that Uniswap would do good to launch its own VC firm in order to invest this treasury into new, promising crypto projects, which is honestly a very solid strategy.

Powerful Moves To Be Discussed

Emiliano Bonassi, the co-founder of the Marquet Exchange, also gave their thoughts. According to Bonassi, this funding should be used to fast-track the development of Layer 2 scaling solutions, as Ethereum’s network is now infamous for its large transaction fees.

Samuel Shadrach had one of the more amusing suggestions, which honestly might not be such a bad idea, either. Shadrach speculated that Uniswap should go and simply buy up the majority share of Sushiswap’s supply, Sushiswap being a forked protocol that stole a massive portion of Uniswap’s market. Through this move, Uniswap could force a merger between the two DEXs.

Regardless of what Uniswap decides to do with this money, it’s a very important milestone for the protocol at large. Whatever is voted through governance to spend the money on, it’s doubtlessly going to be an exciting development for Uniswap.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.