Controversy Over Uniswap $20M Grant To “DeFi Education Fund”, Failed Governance Model?

Controversy Over Uniswap $20M Grant To “DeFi Education Fund”, Failed Governance Model?


There has been a lot of debate around decentralized exchange Uniswap and the DeFi Education Fund (DEF).  This entity received $20 million or 1 million UNI, the protocol’s native governance token, to be lobby and increase the DeFi sector level of adoption. The funds are to be liquidated in 4 to 5 years.

The proposal to created DEF was introduced by the Harvard Law Blockchain and Fintech Initiative (HLSBFI), a student organization dedicated to developing this institution’s students’ knowledge on blockchain technology and the FinTech ecosystem.

About a month ago, the DEF sold 500,000 UNI ($10 million) aided by crypto exchange Genesis, via an Over the Counter (OTC) deal. After this tweet, all hell broke loose, and many went to said that the organization was “looting” Uniswap’s treasury.

With the help of @GenesisTrading, we sold 500k UNI for ~$10.2M USDC in order to fund the efforts of the Defi Education Fund.

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