The second ever proposal for the management of decentralised exchange within UNiswap (DEX) is more than halfway to a quorum with just over 30 hours to go.
If this proposal is accepted, the 12,619 portfolio addresses that have interacted with Uniswap through the power of attorney agreement will receive 400 UNI tokens each. A total of 5.05 million UNI will be granted to MyEtherWallet, Argentina, Dharma, DeFi Saver, Nuo, Eidoo, Opyn, Furucombo, Monolith and Rebalance users.
The proposal was put forward by the Dharma's complex loan and savings protocol, which claimed that its users felt "omitted" by the initial distribution.
The cohort of proxies was chosen because they are "less programmatically available," suggesting "less likely to have multiple addresses per end user.
"The determination phase was based on how easy it is to program a trading bot to connect to them because it is a proxy for which part of these risk cohorts representing multiple addresses per end user".
The deadline for voting is about 8:00 a.m. UTC 31 October.
If the vote passes, the Dharma plans to present a secondary distribution proposal with retroactive effect. "If both Phases pass, we will not vote for any more backward dumps," the Dharma noted.
The vote seems to be constantly gaining support, with the number of votes "for" rising by about 25% in the last few hours to 25.93 million, compared to 1.26 million votes "against. A quorum of 40 million votes in favor must be submitted for the proposal to be adopted.
However, the first vote of the Uniswap government, also presented by the Dharma, has recently failed due to a lack of quorum within the deadline by only 1% despite 98% of the votes in favor.
Although the number of votes against was low, several analysts suggested that a large part of the community could oppose the proposal by abstaining.
The second proposal was also rejected, with SpankChain President Ameen Soleimani criticizing the back-distribution of funds for failing to "create any wealth for UNI owners," while at the same time removing funds from the project treasury that could have been allocated elsewhere and giving tokens to "people who are likely to sell them, probably with little negative impact on price.
In spite of his scruples, Soleimani admitted that he would vote in favor of the proposal if it were "absolutely last in the history of the fund's reconstruction", warning that Uniswap must "avoid this kind of deadlock in management".
