Users Withdraw $1.5B from Uniswap After Distribution of UNI Tokens
Main page News, DeFi
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Nov. 17, 2020

The program to reward liquidity providers in the decentralized exchange Uniswap with UNI tokens is over. Thanks to the program, users could receive rewards in the ETH/USDT, ETH/USDC, ETH/DAI and ETH/WBTC pools, each receiving 5 million UNI tokens for distribution.

According to DeFi Pulse, the rewards program has become the main incentive to provide liquidity on the platform. Until today, Uniswap was the largest DeFi project in terms of user assets, however, it has just fallen to the third place behind Maker and WBTC.

UNI token owners can vote on whether to resume the program. If the proposal is eventually approved, the program will run for two months during which another 10 million UNI tokens will be distributed. The person behind the initiative, Cooper Turley, said:

"The goal of this proposal is to 'maintain the status quo', using reduced incentives as a means to continue distribution as we look to optimize allocations in the medium term."

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