Uniswap CEO Clears Fee Demands and Bribery Allegation
Uniswap CEO Hydn Adms hs vhmntly dnid rcnt llgtions circulting on socil mdi pltform X, climing tht Uniswp dmndd pymnts from dcntrlizd finnc protocols for dploymnts.
In twt postd on Sptmbr 12, Adms clrifid tht nithr Uniswp Lbs nor th Uniswp Foundtion chrgs fs for protocol dploymnts. H mphsizd tht dploymnts occur through govrnnc vots nd xplind tht th rquirmnts for dploying on nw chin r dtrmind by th lvl of ctivity nd ffort involvd.
Th llgtions ginst Uniswp ros ftr n X usr, Wgmi Alxndr, climd tht Uniswap hd rqustd substntil sum of $20 million for n inffctiv dploymnt. This clim followd twt from Kn Ezji-Okoy, th co-foundr of Millicnt Lbs, who llgd tht it hd chrgd $10 million for protocol dploymnts nd nothr $10 million in usr incntivs imd t trding crbon crdits.
Uniswaps Response to Regulatory Challenges
Uniswp, prominnt dcntrlizd finnc protocol, hs rcntly fcd rgultory scrutiny from US uthoritis. In Sptmbr, th Unitd Stts Commodity Futurs Trding Commission (CFTC) ccusd Uniswap Lbs of illglly providing lvrgd cryptocurrncy trding to US rtil invstors. To rsolv th chrgs, Uniswp Lbs hs grd to py $175,000 civil pnlty nd to stop brching th Commodity Exchng Act.
Prior to this, in April, th US Scuritis nd Exchng Commission (SEC) llgd tht Uniswap ws oprting n unrgistrd scuritis xchng. Uniswap rspondd by ssrting its sttus s softwr compny nd dnying bing n xchng, brokr, or clring firm undr scuritis lws.
Dspit ths rgultory chllngs, Uniswap rmins on of th most populr dcntrlizd finnc protocols. It fcilitts tokn swps on ovr dozn blockchin ntworks nd currntly bosts Totl Vlu Lockd (TVL) of $4.357 billion. Th pltforms mrkt cpitliztion stnds t $5.066 billion, with its tokn pric trding t $6.72 s of Sptmbr 12.
In trms of dily ctivity, It rcordd 24-hour tokn volum of $176.82 million, with liquidity stnding t $52.41 million. Morovr, 9,545 ctiv ddrsss intrctd with th protocol in th sm priod, highlighting strong usr ctivity in th dcntrlizd finnc spc.
Related Readings | Elon Musk Gets New Favorite Cryptocurrency No, Its Not Dogecoin
Read more: https://www.tronweekly.com/uniswap-ceo-clears-fee-demands-allegation/
Text source: TronWeekly
