'DeFi Education Fund' defends controversial $10.2M UNI liquidation
The DeFi Education Fund has defended its shock liquidation of $10 million in UNI, claiming the move was necessary to “begin its work and fund future operations.” The DeFi Education Fund (DEF), an organization funded by Uniswap to spearhead lobbying and educational initiatives in support of the decentralized finance sector, has defended its sudden move to liquidate half of its UNI treasury earlier this week.The organization said it needed to convert the funds into stable assets to weather crypto market volatility.In May, the DEF was conceived in a Uniswap governance proposal from the....
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The recently formed DeFi Education Fund has come under fire for abruptly announcing it had liquidated half of the 1 million UNI tokens donated to it through UNI governance. The controversial Uniswap-funded DeFi Education Fund has liquidated half of its donated funding into stablecoins, attracting condemnation from many in the crypto community.On June 12, the fund tweeted that it was selling 500,000 UNI to Genesis Trading for 10.2 million USDC in an over-the-counter (OTC) trade, despite the Uniswap proposal for the fund indicating it would liquidate the 1 million UNI over four to five....
There is a lot of education to be done in the world, especially now that the Information Age is upon us. However, there are very little efforts taking place to prepare young people and adults for this new era of digitization. Netflix CEO Reed Hastings is starting a new fund to contribute to education. Given his current stance on Bitcoin, the Hastings....
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 […]
Digital asset manager Grayscale has launched a new DeFi fund with CoinDesk Indexes, according to a press release. The Grayscale Decentralized Finance (DeFi) Fund will offer its clients exposure to some of the major tokens in the sector. The fund will track the CoinDesk DeFi Index, created on May 10, 2021, to “measure the investable […]
The controversial proposal is gaining the support of the big players. Ethereum solutions provider ConsenSys has pledged support for a Uniswap governance proposal to set aside tokens for a new decentralized finance (DeFi) fund for political lobbying.The proposal was made on May 27 by the Harvard Law School Blockchain and FinTech Initiative for the creation of a fund that would finance existing and new political groups engaged in crypto policy-making and lobbying to defend DeFi against regulation.The Harvard Law BFI proposal cited concerns that governments around the world may try to....