A decentralized financial analytics provider says funding for Uniswap should go to community members, not service providers.
Decentralized financial analytics (DeFi) firm Dune Analytics has said it opposes Flipside Crypto’s vote to manage Uniswap (UNI), a “community-backed analytics” that manages around $25 million worth of UNI tokens.
On Thursday, Dune tweeted that it believes the funds should go to community members, not service providers, noting that the community was not paying attention to the issue.
A look at the proposal’s governance voting page shows that nearly 41 million people voted in favor of the proposal and 2.5 million voted against it. Voting closed at 7.05 am (UTC+1) on Friday 20 August.
Dune argued that it “makes no sense” to support one provider among many analytics solutions.
“It doesn’t make sense for @uniswap to support the day-to-day operations of @flipside with 8 full-time employees,” Dune wrote in a tweet.
Under the terms of the incentive, cryptocurrency Flipside would receive $25 million in two annual distributions of $15 million and $10 million.
Under the proposal, half of the proceeds from the fund will be used to grow the Uniswap ecosystem in the form of rewards for community members.
The remaining 50% of Flipside’s proceeds would be used to fund the platform’s operations, including the payment of salaries. This provision can be seen as a 50% administration fee on the proceeds of the community grant.
Dune Analytics and Flipside Crypto did not respond to Cointelegraph’s request for comment.
A new controversy accompanying the apparent concentration of control at Uniswap is Dune’s opposition to a proposed $25 million gift to its rival.
In July, the DeFi Education Foundation came under fire in the cryptocurrency community for selling half of the one million UNI tokens it gave away, then worth around $10 million.
The DeFi Education Foundation defended its actions, saying that they were necessary to get the organization back on track.