As per The Defiant, Uniswap, the second-largest decentralized exchange by trading volume, is approaching $1 trillion in yearly trading volume. However, UNI token holders have criticized the platform for not sharing its success with them through revenue, buybacks, or other economic benefits. Uniswap founder Hayden Adams' recent post highlighting the platform's record volumes sparked backlash from the community, including prominent figures like Arca's Jeff Dorman and investor Mike Dudas, who questioned the lack of value accrual for UNI holders. Data shows that over 99% of Uniswap's value has gone to liquidity providers and other third parties, while UNI holders have received no fee revenue. Uniswap Labs, however, has captured over $127 million in fees through its interface. A proposed staking mechanism for UNI holders was delayed due to SEC regulatory issues, and while Unichain may offer future economic upside, it has yet to materialize.
UNI Holders Criticize Lack of Revenue Share as Uniswap Nears $1 Trillion in Yearly Volume
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