Uniswap DAO temperature check shows support for investing $12 million of UNI for 20% share in Ekubo's future governance token

Quick Take

  • The Uniswap DAO has expressed support for a proposal to invest $12 million in a potential governance token of the Ekubo decentralized exchange.

Correction: An earlier version of this article said the proposal had passed a full vote when it was just a temperature check. The article has been updated to reflect this.

The Uniswap DAO has express support in a temperature check for a proposal to invest 3 million UNI ($12 million) from its treasury into decentralized exchange Ekubo, in exchange for a 20% share of a potential governance token.

"We at Ekubo, Inc. believe this is a vitally important step in the decentralization of Uniswap protocol development, effectively onboarding the Ekubo team as core developers," said Ekubo founder Moody Salem in the initial proposal.

The vote on Snapshot has 21 million UNI tokens for and 12 million tokens against, meaning 63% of tokens that voted were in favor of the move. Five t