Uniswap DAO voted to invest $12 million in a potential governance token of the Ekubo decentralized exchange.
The Uniswap DAO has voted to invest 3 million UNI from its treasury into decentralized exchange Ekubo, in exchange for a 20% share of a potential governance token.
The vote on Snapshot passed with 21 million UNI tokens for and 12 million tokens against, meaning 63% of tokens that voted were in favor of the move. Five token holders compromised 97% of the vote in favor of the move. There were more than 3,500 votes in total. The 3 million tokens, which will be liquid, will be used to fund Ekubo's operations as well as contribution to the Uniswap protocol, Salem said. "Much of the work will be to deliver public goods to the Starknet ecosystem, including standard token, governance, and incentives contracts written in Cairo, all of which are necessary to scale Starknet to the same level of usage as competing L2s," he added.
Doo Wan Nam, co-founder at StableLab, noted, " If this proposal is passed, I think the Uniswap governance should seriously reflect on what is the role of governance and accountability."
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