Uniswap community members are scrambling to update yield farming rewards for the automated market maker’s (AMM) native token UNI as the initial liquidity mining program sunsets on Nov. 17.
A governance vote for continuing farming on the same four asset pairs – WBTC/ETH, USDC/ETH, USDT/ETH and DAI/ETH – was proposed by Audius strategy lead Cooper Turley and pseudonymous “monet supply” Monday. The proposal will have to pass a series of governance polls before farming restarts Dec. 4.
UNI liquidity mining allocations would be half of the original 2.5 million UNI tokens delegated per asset pool on a month-to-month basis. Farming rewards were first created in September for a limited two month run following a surprise airdrop of UNI tokens to the AMM’s developers, users and investors.
UNI is trading hands at $3.50, according to CoinGecko.
Uniswap’s total value under lock (TVL) first broke $1 billion in September after introducing UNI rewards. The AMM peaked