Dune Analytics, a decentralized finance (DeFi) analytics service, has spoken out against a Uniswap (UNI) governance vote for “Community-Enabled Analytics,” which would see Flipside Crypto manage about $25 million in UNI tokens.
Dune tweeted on Thursday about the lack of community attention to the issue, as well as the fact that grants should go to community members rather than service providers.
Indeed, the proposal’s governance voting page has almost 41 million votes in favor and 2.5 million votes against it. The poll will close at 7:05 a.m. UTC+1 on Friday, August 20.
Dune believes that financing a single provider among numerous analytics tools “doesn’t make sense.”
Dune stated in its tweet, “There is no logic for @uniswap to fund @flipside’s everyday operations with eight full-time staff.”
Flipside Crypto will receive $25 million in two annual installments of $15 million and $10 million, respectively, as part of the grant.
According to the specifications published in the proposal paper, half of the fund’s yield will purportedly go towards enhancing the Uniswap ecosystem in the form of rewards to community members.
The remaining 50% of Flipside’s return will be used to fund the platform’s operations, such as salary payments – a condition that may be seen as a 50% management charge on community grant revenues.
The newest dispute emerging from Uniswap’s apparent consolidation of administration is Dune’s resistance to a proposed $25 million gift to a competitor.
The DeFi Education Fund received significant backlash in the crypto community in July after liquidating half of its 1 million UNI token gift, which was worth over $10 million at the time.
The DeFi Education Fund defended its actions, claiming that they were required to get the organization up and running.
