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Thursday

26 November 2020

UniSwap Soars 24% as Community Votes to Extend UNI Reward Program

UniSwap Soars 24% as Community Votes to Extend UNI Reward Program


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The upside move appeared after the UniSwap community put forward a governance proposal that would extend their UNI reward program for liquidity providers.

In retrospect, UniSwap operates as an automated market maker that arranges liquidity from users to run its decentralized exchange.

It consisted of four ETH-based liquidity pools that were yielding 583,333 UNI each.

In contrast, Bancor and SushiSwap’s liquidity pools ballooned after introducing opportunistic farming reward programs.

That prompted the UniSwap community to launch a rival yield farming reward.

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