Uniswap

Uniswap DAO has backed a proposal to invest 3 million UNI ($12 million) from its treasury into the decentralized exchange Ekubo in exchange for a 20% share of the governance token.
Ekubo is a decentralized exchange on Starknet that has a value of $2.5m locked into its smart contracts, according to&nbsp;<a href="https://defillama.com/protocol/ekubo" target="_blank" rel="noopener noreferrer nofollow">DefiLlama</a>.
<blockquote class="wp-block-quote">
 “We at Ekubo, Inc. believe this is a vitally important step in the decentralization of Uniswap protocol development, effectively onboarding the Ekubo team as core developers.” <cite>Ekubo founder Moody Salem</cite>
</blockquote>
The vote <a href="https://gov.uniswap.org/t/temperature-check-invest-in-ekubo-protocol/22146/8" target="_blank" rel="noopener noreferrer nofollow">included</a> 21 million <a href="https://crypto.news/price/uniswap/" data-type="link" data-id="https://crypto.news/price/uniswap/" rel="noopener noreferrer nofollow">UNI</a> tokens in favor of the decision and 12 million UNI tokens against it. Therefore, 63% of the voting tokens supported this move. Five token holders received 97% of the votes in favor of this decision. In total, more than 3,500 votes were cast.
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According to Salem, if the proposal passes the proper vote, 3 million tokens will be used to fund Ekubo’s operations as well as contribute to the Uniswap protocol.
Additionally, Ekubo will create a governance token within one month of accepting the proposal, with 20% of its supply going to the Uniswap DAO treasury. Ekubo will control the remaining tokens and any potential distribution. The token will be native to Starknet. The proposal would also require a Uniswap license upgrade, which would give Ekubo a grant for unlimited use of Uniswap v4.
Previously, the Uniswap crypto exchange <a href="https://crypto.news/uniswap-to-charge-0-15-swap-fees-in-web-app-and-wallet/" rel="noopener noreferrer nofollow">introduced</a> a commission of 0.15% for swaps in the web application and wallet. The developers promised to use all proceeds for the development of the platform.
In addition, Uniswap users <a href="https://crypto.news/uniswaps-kyc-move-essential-for-dex-survival-expert-says/" rel="noopener noreferrer nofollow">have discovered</a> a new KYC function that can be implemented in the fourth version of the site update.
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Uniswap DAO supports investing $12m in DEX for 20% stake

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