Dune Analytics, a decentralized finance (DeFi) analytics service, has expressed its opposition to a Uniswap (UNI) governance vote for “Community-Enabled Analytics,” which would see Flipside Crypto manage approximately $25 million in UNI tokens.
Dune tweeted on Thursday about the lack of community attention to the issue, as well as his belief that grants should be given to community members rather than service providers.
Indeed, the proposal’s governance voting page shows that over 41 million people voted in favor of it, while 2.5 million voted against it. The poll will close on Friday, August 20 at 7:05 a.m. UTC+1.
Dune believes that funding a single provider among several analytics platforms “makes no sense.”
“It makes no sense for @uniswap to fund @flipside’s day-to-day operations with eight full-time employees,” Dune added in a tweet.
Flipside Crypto will receive $25 million in two annual installments of $15 million and $10 million, respectively, under the terms of the grant.
According to the details shared in the proposal document, half of the fund’s yield will reportedly go towards improving the Uniswap ecosystem in the form of bounties to community members.
The remaining 50% of Flipside’s yield will be used to fund the platform’s operations, such as salary payments — a provision that could be interpreted as a 50% management fee on earnings from a community grant.
The latest controversy stemming from Uniswap’s apparent centralization of governance is Dune’s opposition to the proposed $25 million grant to its competitor.
Back in July, the DeFi Education Fund was chastised in the crypto community for liquidating half of its 1 million UNI token donation, which was worth around $10 million at the time.
The DeFi Education Fund defended its actions, claiming that they were necessary to get the organization up and running.