UNISWAP LABS决定在不咨询Uniswap Dao Sparks争议的情况下启动Unichain的决定

Uniswap Labs决定启动Unichain的决定，即第2层（L2）网络，而无需与Uniswap Dao进行大量咨询，引发了重大争议

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决定启动Unichain（其2层（L2）网络）的决定，没有与Uniswap Dao进行大量咨询，引发了Defi社区的重大争议。

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

评论家认为，这一举动对透明度，集中化以及对Uniswap生态系统的更广泛影响引起了严重的关注。

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的推出强调了对UNISWAP生态系统的治理问题。社区成员和代表对缺乏Uni代币持有人的意见感到沮丧。

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分析师IGNAS指出，UNISWAP基金会最近批准了一项1.655亿美元的资金建议，以支持Unichain的发展并激励流动性移民。但是，许多人认为，这笔资金受益于Uniswap Labs和Uniswap基金会，而牺牲了Uni持有人，他们目前没有从平台上获得收入。

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.

据报道，在过去两年中，Uniswap Labs的前端费用估计为1.71亿美元。与诸如AAVE（AAVE）之类的竞争对手通过费用转换机制与代币持有人共享协议收入的竞争对手不同，UNISWAP已将所有收入集中，从而进一步加剧了UNI投资者的不合理。

“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.

“在一个不断变化的时代，Aave建议每周回购100万美元的AAVE和30美元的每月收购回购，Uni持有者是一头挤奶母牛，现在对代币产生了价值……Aave和Maker与代币持有人的关系更加一致，我不知道为什么前端的费用与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.

加密分析师Duo Nine批评了这一策略，建议UNISWAP应该使用其资金回购Uni代币，而不是大量投资于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.

“他们最好用这种现金购买Uni。如果他们不奖励令牌持有人，他们的飞轮将无法正常工作。现在，创建L2似乎是不必要的成本。”分析师说。

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.

为了应对如何资助扩展的担忧，IGNAS推测uniswap将出售Uni代币以支付费用。但是，这样的举动可能导致持有人的进一步稀释和不满。

Liquidity Fragmentation: A Major Concern

流动性分裂：主要关注

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发射的另一个关键问题是流动性分裂的风险。 UNISWAP DAO已分配了2100万美元，以吸引总价值锁定（TVL），以将其从820万美元增加到7.5亿美元。

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，许多人担心这些激励措施主要会吸引流动性提供商（LPS）远离以太坊和其他第2层（L2）网络，而不是吸引新资本。

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

IGNAS警告说，将流动性转移到Unichachain可能会削弱UniSwap在以太坊上的市场份额，从而使竞争对手获得立场。

“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补充说：“在Unichain上激励TVL导致LP从以太坊和L2迁移，减少ETH/L2的市场​​份额，并使竞争对手能够出现。”

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

这种流动性迁移可能会导致更高的滑倒和较不利的贸易条件，从而在整个更广泛的生态系统中。

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.

尽管有担忧，但UNISWAP基金会仍致力于扩大Unichain的采用和激励流动性迁移。 Beincrypto报道说，该基金会打算推动Uniswap V4和Unichain的增长。但是，对他们是否会为协议的生态系统带来长期价值的怀疑。

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，自从2月11日Unichain L2在Mainnet上推出以来，UNISWAP代币价格一直在下降。截至撰写本文时，Uni的交易价格为7.52美元，自周四的会议开幕以来，比例为2％。