UNISWAP LABS決定在不諮詢Uniswap Dao Sparks爭議的情況下啟動Unichain的決定

Uniswap Labs決定啟動Unichain的決定，即第2層（L2）網絡，而無需與Uniswap Dao進行大量諮詢，引發了重大爭議

Uniswap Labs’ decision to launch Unichain, its Layer-2 (L2) network, without extensive consultation with the Uniswap DAO has sparked significant controversy within the DeFi community.

Uniswap Labs決定啟動Unichain（其2層（L2）網絡）的決定，沒有與Uniswap Dao進行大量諮詢，引發了Defi社區的重大爭議。

Critics argue that this move raises serious concerns about transparency, centralization, and the broader impact on Uniswap’s ecosystem.

評論家認為，這一舉動對透明度，集中化以及對Uniswap生態系統的更廣泛影響引起了嚴重的關注。

Uniswap Labs and Uniswap Foundation Under Fire

Uniswap Labs和Uniswap Foundation

The launch of Unichain has highlighted governance concerns for the Uniswap ecosystem. Community members and delegates expressed frustration over the lack of input from UNI token holders.

Unichain的推出強調了對UNISWAP生態系統的治理問題。社區成員和代表對缺乏Uni代幣持有人的意見感到沮喪。

Notably, DeFi analyst Ignas pointed out that Uniswap Foundation recently approved a $165.5 million funding proposal to support Unichain’s development and incentivize liquidity migration. However, many believe this funding benefits Uniswap Labs and the Uniswap Foundation at the expense of UNI holders, who currently receive no revenue from the platform.

值得注意的是，DEFI分析師IGNAS指出，UNISWAP基金會最近批准了一項1.655億美元的資金建議，以支持Unichain的發展並激勵流動性移民。但是，許多人認為，這筆資金受益於Uniswap Labs和Uniswap基金會，而犧牲了Uni持有人，他們目前沒有從平台上獲得收入。

Reportedly, Uniswap Labs has generated an estimated $171 million in front-end fees over the past two years. Unlike competitors such as Aave (AAVE), which shares protocol revenues with token holders through a fee switch mechanism, Uniswap has centralized all earnings, further fueling discontent among UNI investors.

據報導，在過去兩年中，Uniswap Labs的前端費用估計為1.71億美元。與諸如AAVE（AAVE）之類的競爭對手通過費用轉換機制與代幣持有人共享協議收入的競爭對手不同，UNISWAP已將所有收入集中，從而進一步加劇了UNI投資者的不合理。

“In a shifting era where Aave proposes buying back $1M of AAVE per week and Maker $30/month buy-backs, UNI holders are a milking cow with now value accrual to the token…Aave and Maker have a more aligned relationship with token holders, and I don’t see why front-end fees couldn’t be shared with UNI holders.,” Ignas expressed.

“在一個不斷變化的時代，Aave建議每週回購100萬美元的AAVE和30美元的每月收購回購，Uni持有者是一頭擠奶母牛，現在對代幣產生了價值……Aave和Maker與代幣持有人的關係更加一致，我不知道為什麼前端的費用與Uni持有uni holders nighas Express express nighas express nighas express nighas express。

Duo Nine, a crypto analyst, criticized this strategy, suggesting that Uniswap should use its funds to buy back UNI tokens rather than investing heavily in Unichain.

加密分析師Duo Nine批評了這一策略，建議UNISWAP應該使用其資金回購Uni代幣，而不是大量投資於Unichain。

“They are better off buying UNI with that cash. Their flywheel won’t work if they don’t reward token holders. Creating an L2 seems like an unnecessary cost now,” the analyst remarked.

“他們最好用這種現金購買Uni。如果他們不獎勵令牌持有人，他們的飛輪將無法正常工作。現在，創建L2似乎是不必要的成本。”分析師說。

In response to concerns about how the expansion would be funded, Ignas speculated that Uniswap would sell UNI tokens to cover the costs. However, such a move could lead to further dilution and dissatisfaction among holders.

為了應對如何資助擴展的擔憂，IGNAS推測uniswap將出售Uni代幣以支付費用。但是，這樣的舉動可能導致持有人的進一步稀釋和不滿。

Liquidity Fragmentation: A Major Concern

流動性分裂：主要關注

Another key issue surrounding Unichain’s launch is the risk of liquidity fragmentation. Uniswap DAO has allocated $21 million to attract Total Value Locked (TVL) to Unichain, aiming to grow it from $8.2 million to $750 million.

涉及Unichain發射的另一個關鍵問題是流動性分裂的風險。 UNISWAP DAO已分配了2100萬美元，以吸引總價值鎖定（TVL），以將其從820萬美元增加到7.5億美元。

However, many worry that these incentives will primarily lure liquidity providers (LPs) away from Ethereum and other Layer-2 (L2) networks rather than attracting new capital.

但是，許多人擔心這些激勵措施主要會吸引流動性提供商（LPS）遠離以太坊和其他第2層（L2）網絡，而不是吸引新資本。

Ignas warned that shifting liquidity to Unichachain could weaken Uniswap’s market share on Ethereum, allowing competitors to gain ground.

IGNAS警告說，將流動性轉移到Unichachain可能會削弱UniSwap在以太坊上的市場份額，從而使競爭對手獲得立場。

“Incentivizing TVL on Unichain leads to LPs migrating from Ethereum and L2s, decreasing market share on ETH/L2s, and enabling competitors to emerge,” Ignas added.

Ignas補充說：“在Unichain上激勵TVL導致LP從以太坊和L2遷移，減少ETH/L2的市場​​份額，並使競爭對手能夠出現。”

This liquidity migration could lead to higher slippage and less favorable trading conditions across the broader DeFi ecosystem.

這種流動性遷移可能會導致更高的滑倒和較不利的貿易條件，從而在整個更廣泛的生態系統中。

Despite concerns, the Uniswap Foundation remains committed to expanding Unichain’s adoption and incentivizing liquidity migration. BeInCrypto reported that the foundation intends to drive growth for Uniswap v4 and Unichain. However, skepticism remains over whether they will deliver long-term value to the protocol’s ecosystem.

儘管有擔憂，但UNISWAP基金會仍致力於擴大Unichain的採用和激勵流動性遷移。 Beincrypto報導說，該基金會打算推動Uniswap V4和Unichain的增長。但是，對他們是否會為協議的生態系統帶來長期價值的懷疑。

However, since Unichain L2 launched on the mainnet on February 11, the Uniswap token price has been declining. As of this writing, UNI was trading for $7.52, up by a modest 2% since Thursday’s session opened.

但是，自從2月11日Unichain L2在Mainnet上推出以來，UNISWAP代幣價格一直在下降。截至撰寫本文時，Uni的交易價格為7.52美元，自周四的會議開幕以來，比例為2％。