The creator of Uniswap, Hayden Adams made use of the Twitter platform to ask opinions and feedback on how the Decentralised Cryptocurrency Exchange should allocate its $500 million governance treasury. The settled share of Uniswap’s war chest is now estimated at more than half a billion dollars. The native UNI token of Uniswap is currently trading at $9.30 after parading to break free of its past all-time high of $7.10.
In Hayden Adam’s words, the Tweet said: “What are some of the most impactful ways governance can allocate this UNI?”. The creator received a mixture of suggestions, opinions and analysis including a request for a second UNI airdrop to current Uniswap users. Another request included a call for 90% of Uniswap’s governance tokens to be burned. There were also some seriously worded and sincere requests for the funds to be invested in recruiting the “shilling” services of many Twitter-users.
On Twitter, Cihan Oztunc who is a product manager at the New York Stock Exchange suggested that Uniswap launch a VC firm to invest the treasury into assuring new crypto projects: He said, “Start a VC firm called “Uniswap Ventures” and invest that money into new crypto projects. Once that $500M becomes $500B, we can buy space shuttles and organize space tours for lucky Uniswap users”.
For the same thing, co-founder of Marquet exchange, Emiliano Bonassi, tweeted saying that Uniswap should invest in quickening the development of Layer 2 scaling solutions. Samuel Shadrach, who is a DeFi commentator asserted that Uniswap should purchase up a majority share of SushiSwap’s supply and try to negotiate a merger between the two platforms.
Shadrach’s words were, “That would be a big balls play lol. Buy up 51% of Sushiswap’s MC and force a merger of the two”. Last September (2020) Uniswap, out of nowhere revealed its native UNI token. Out of the token’s one billion supply, 43% was held by the project’s governance treasury. This was for the distribution over “an ongoing basis through contributor grants, community initiatives, liquidity mining, and other programs.”
In the company’s four-year cycle of token releases, the protocol will be with the governance treasury which will start at 40% of the complete allocation of 430 million UNI in the first year and then reducing to 10% of it, which is 43 million UNI by year four.