- Proposal made by GFX Labs quorum member
- The initiative would have imposed a commission on liquidity providers of 1/10 to 1/5
- The vote on the proposal failed
- GFX Labs noted that many “fresh” wallets participated
In late May GFX Labs put forward a proposal to implement protocol fees charged to v3 pool liquidity providers. Yesterday, June 1, the vote on the issue ended, and a majority of the quorum opposed the initiative.
“Uniswap is a decentralized exchange, and market participants are used to paying a commission for using CEX services.. We must confirm, liquidity providers are users of the protocol who do not need a refund. They are professional market makers, just like regular exchanges,” GFX Labs was quoted as saying by The Block.
45.3% of tokens were registered for the “against” option. 54.6% of the “yes” votes were split between two options, a 1/5 and a 1/10 commission. Interestingly, a lot of “fresh” wallets with almost zero transaction history voted against the initiative.
This is the third attempt to push through the commission decision. Earlier, similar proposals were made by Leighton Cusack, founder of Pool Together, and Guillaume Lambert, founder of Panoptic. They too have failed.
UNI’s large holdouts fear that the mandatory payment system change will lead to potential problems in the regulatory arena. They require the creation of a specific legal entity to represent DEX.
GFX Labs has indicated that they will be posting a clarification on the Uniswap Community Forum in the near future.. There are no attempts to persuade users to approve the decision.</nbsp;
With the offer ratification, the liquidity providers in v3 Polygon pools were the first to feel the changes.