Key Takeaways:
- Uniswap CEO Hayden Adams denied allegations that the protocol charges DeFi projects for deployment, clarifying that decisions are made through governance votes.
- Allegations of Uniswap demanding fees ($10M and $20M) were refuted by Adams, emphasizing that neither Uniswap Labs nor the Foundation charges for such services.
- Despite regulatory scrutiny from the CFTC and SEC, Uniswap holds $4.35 billion in total value locked (TVL) as of September 12.
Uniswap CEO Hayden Adams has denied accusations that the protocol demanded payments from decentralized finance (DeFi) projects for deployment.
On September 12, Adams addressed the rumors on X, clarifying that neither Uniswap Labs nor the Uniswap Foundation charges fees for protocol deployment, which is decided by governance votes based on the effort required for each blockchain.
I rarely engage with forks trying to bait engagement, but for the record this is completely false
— Hayden Adams 🦄 (@haydenzadams) September 12, 2024
Neither Uniswap Labs nor Uniswap foundation have ever charged for a protocol deployment
😬 https://t.co/t2VABxEnBK
The controversy began after an X user claimed Uniswap demanded $20 million for a deployment, following a similar accusation from Millicent Labs’ co-founder, alleging a $10 million fee.
Despite facing regulatory scrutiny from the U.S. Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) for offering unauthorized leveraged trading and unregistered securities exchange,
BREAKING: CFTC ISSUES ORDER AGAINST @Uniswap LABS FOR OFFERING ILLEGAL DIGITAL ASSET DERIVATIVES TRADING pic.twitter.com/K6kYzMzz9x
— DEGEN NEWS (@DegenerateNews) September 4, 2024
Uniswap remains a leading decentralized finance protocol.
It had $4.35 billion in total value locked (TVL) as of September 12, per DefiLlama.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.
Check Adam out on: