{"id":7363,"date":"2023-10-31T01:59:52","date_gmt":"2023-10-31T01:59:52","guid":{"rendered":"https:\/\/infundpros.com\/markets\/crypto\/uniswap-dao-signals-approval-for-12-million-investment-in-ekubos-governance-token-heres-what-you-need-to-know\/"},"modified":"2023-10-31T01:59:53","modified_gmt":"2023-10-31T01:59:53","slug":"uniswap-dao-signals-approval-for-12-million-investment-in-ekubos-governance-token-heres-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=7363","title":{"rendered":"Uniswap DAO Signals Approval for $12 Million Investment in Ekubo&#8217;s Governance Token \u2013 Here&#8217;s What You Need to Know"},"content":{"rendered":"<div>\n<figure id=\"attachment_123565\" aria-describedby=\"caption-attachment-123565\" style=\"width: 715px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-123565\" class=\"wp-caption-text\">Source: Uniswap<\/figcaption><\/figure>\n<p>Uniswap DAO, a major player in decentralized finance (DeFi) world, has shown significant support for a proposal to invest a substantial amount of its treasury funds into Ekubo, a decentralized exchange (DEX) operating on Ethereum\u2019 Starknet network.<\/p>\n<p>The proposal suggests investing 3 million UNI tokens, equivalent to $12 million, in Ekubo in exchange for a 20% share in a future governance token that the project plans to launch, The Block reported on Sunday.<\/p>\n<p>In the proposal, Moody Salem, the founder of Ekubo, said he sees the investment as a \u201cvitally important step\u201d toward decentralizing Uniswap\u2019s protocol development by incorporating the Ekubo team as core developers.<\/p>\n<p>This sentiment resonated with a significant portion of the Uniswap community.<\/p>\n<p>The preliminary vote on the Snapshot platform indicated that 63% of participating tokens were in favor of the proposal, with 21 million UNI tokens supporting it against 12 million opposed.\n<\/p>\n<h2>Strong growth in TVL<\/h2>\n<p>\nEkubo, operating as a decentralized exchange on Starknet, currently boasts $2.6 million in total value locked (TVL) within its smart contracts, according to DefiLlama.<\/p>\n<p>The protocol has seen significant and consistent growth in TVL since its humble beginnings in September this year.<\/p>\n<figure id=\"attachment_123556\" aria-describedby=\"caption-attachment-123556\" style=\"width: 2090px\" class=\"wp-caption alignnone\"><figcaption id=\"caption-attachment-123556\" class=\"wp-caption-text\">Ekubo total value locked (TVL). Source: DefiLlama<\/figcaption><\/figure>\n<p>If the proposal proceeds through the necessary voting stages, the 3 million UNI tokens allocated for the investment will serve to fund Ekubo\u2019s operations and contribute to the Uniswap protocol.<\/p>\n<p>Ekubo has stated that it aims to create a governance token within a month of proposal approval, with 20% of the token supply dedicated to the Uniswap DAO treasury.<\/p>\n<p>Uniswap, in return, will update its license to grant Ekubo unlimited use of Uniswap v4.<\/p>\n<p>Despite the support for the proposal, it has faced opposition, with some members of the Uniswap community expressing concerns about governance, accountability, and valuation.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/uniswap-dao-signals-approval-for-12-million-investment-in-ekubos-governance-token-heres-what-you-need-to-know.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Uniswap Uniswap DAO, a major player in decentralized finance (DeFi) world, has shown significant support for a proposal to invest a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":7364,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[],"class_list":{"0":"post-7363","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Uniswap 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