- Uniswap’s v4 release caused a stir, but it drew criticism on social media.
- The negative sentiment outpaced user growth.
from Uniswap [UNI] The highly anticipated release of v4 has generated a lot of excitement within the cryptocurrency community. However, in recent days there has been an increase in criticism of the protocol’s performance and structure, raising concerns about its potential impact.
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Any criticism
Users on Twitter have started wondering if UNI token holders really benefit from the performance of the protocol. They drew comparisons to Ethereum and highlighted key differences in their respective models. Users also expressed doubts about the fairness and alignment of incentives for UNI holders.
Hayden went on Bankless, saying he views Uniswap’s philosophy similarly to Ethereum’s
But Ethereum does not have a for-profit company that has a direct conflict of interest with ETH holders. Neither does any of the codes from Ethereum or clients have a BSL license 🤷🏼 https://t.co/RPyo7ptCh0
— ℳiLLiΞ🔑🔮⏳ (@0xmillie_eth) June 17, 2023
Adding to the discussion, analytics company Token Terminal emphasized the importance of these questions argue for improvements in the sector. Token Terminal emphasized that UNI holders who are part of the DAO have proprietary rights to all on-chain products.
Token Terminal stressed the need for these conversations to take place in public forums, bringing greater transparency and understanding of Uniswap’s decentralized exchange (DEX) structure. They argued that open dialogue fosters trust and helps shape the future direction of the protocol.
To date, neither Uniswap nor founder Hayden Adams have issued any official statements dispelling these criticisms.
On the social front, Uniswap witnessed a significant increase in engagements and mentions over the past week. This must have probably been fueled by the excitement surrounding the release of v4.
However, Santiment’s data revealed negative general sentiment within the crypto community towards Uniswap. This was indicated by falling weighted sentiment scores. The community’s skepticism raises questions about the protocol’s perception and reputation.
Source: token terminal
Despite the negative sentiment, the protocol experienced positive growth in terms of user activity, with a notable 21.1% increase in daily active users over the past week. This suggests that despite the criticism, Uniswap remains a popular choice for cryptocurrency traders and investors looking for decentralized exchange solutions.
However, the falling fees generated by the protocol highlight the competitive nature of the market and the challenges of sustaining revenue streams.
Source: Sentiment
Realistic or not, here is UNI’s market cap in BTC terms
State UNI
The price of Uniswap has risen significantly in recent weeks, with UNI trading at $4,515 at the time of writing. However, the declining volume has worried investors as it indicates a lack of continued interest or potential market saturation.
In addition, development activity on the protocol has shown growth, indicating potential upgrades that could positively impact Uniswap. This highlights the development team’s commitment to improving the protocol’s functionality and addressing community concerns.
Source: Sentiment
