Uniswap Plunges Ahead of $50 Million Dilution Vote

uniswap price oct 2020

Uniswap has fallen some 60% from its peak to now $3 from close to $8 just two weeks ago. It fell by more than 10% just today with its market cap at half a billion on a circulating supply of 182 million. A governance proposal now wants to add another 10% to that supply, or some 15,679,200 UNI tokens, worth about $50 million at the current price. A defi dapp Dharma says application integrations and DEX aggregators were unintentionally excluded from last month’s Uniswap airdrop so they should be compensated. Things like Kyber and other dapps use MetaMask but kind of in the background, so Dharma is arguing those users should receive the 400 UNI tokens too. This proposal was made on the 24th of September, days after the airdrop, with Dharma at the time stating “our personal opinion is that both cohorts were likely unintentionally excluded and ought to…

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