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27 July 2021

Uniswap-backed fund defends recent UNI token sale | CryptoSlate

Uniswap-backed fund defends recent UNI token sale | CryptoSlate


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Earlier this week,CryptoSlatereported on concerning feedback as $10 million in Uniswap (UNI) tokens got sold shortly after the team behind the Decentralized Finance (DeFi) Education Fund (DEF), supported by the leading decentralized exchange (DEX), earned approval for a $20 million grant.

After receiving support fromUniswap’s UNI governance token holders, the new policy organization, focused on promoting DeFi education and advocacy, deployed half of the funds received from the Ethereum (ETH) DeFi protocol’s treasury in a single transaction.

While adding “that the sale represented <5% of daily UNI trade volume and was not likely to have a negative impact on the UNI market price,” the organization added that “none of the sale mechanics were private or hidden and all of the transactions are available for public audit.”.

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