🦄Uniswap Proposal “UP2” Fails, A victory for PenguinParty.eth🦄

David Felton
3 min readOct 31, 2020

At block 11161185, Dharma’s proposal “UP2” for a retroactive distribution of Uni, that we strongly believed would have hurt Uni holders, failed.

We, as Uni holders, can now breathe a collective sigh of relief. We *are not* going to distribute $45 million dollars worth of Uni in a lump-sum “Airdrop” to the users of a select few defi applications.

With Dharma’s proposal finished, now is a good time for us as Uniswap users, developers, and UNI holders, to think of CONSTRUCTIVE ways to use the Uniswap treasury.

PenguinParty.eth Community member $tephen has submitted the first-ever Uniswap Autonomous Proposal using our AP Factory, that we hope the community will delegate to through our dApp, entitled: “Fund a 60 day UNI-ETH liquidity mining pool with 5M UNI”.

Deeper information about the calldata in the Autonomous Proposal will be available in our next iteration, but for now it can be easily seen on Etherscan and the proposal can be simulated using this repository created by $tephen: https://github.com/penguinparty-eth/ETH-UNI-pool-proposal

Uni Holders have been hurting…

What this proposal will do, is quite simply what it offers: Fund a 60 day UNI-ETH liquidity mining pool. We believe this is a no-brainer for Uniswap governance and will add support for UNI’s price, which has taken a beating lately.

As well, offering this to our supporters fulfills Hiturunk’s earliest campaign promises, that he would bring the very obviously needed ETH-UNI liquidity mine to the vote. After founding PenguinParty.eth, we have brought that early promise to a reality for Penguins and Unicorns everywhere.

Choose wisely..That sweet PS5 or magical Unicorn tokens..?

Signed,
0x0be0ecc301a1c0175f07a66243cff628c24db852
penguinparty.eth

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David Felton

We are a Decentralized Governance Token Delegation focused on software deliverables to improve decentralized protocols and ensure protocol interoperability.