Week in DeFi: Uniswap Fee Switch Vote Fails, Celestia Collaborates with Optimism

Uniswap fee switch vote failed to pass, but not because it was unpopular, as Celestia launches a modular DA interface for the OP Stack — find out more in our weekly DeFi roundup.

Timeline of Uniswap

Uniswap, a leading decentralized exchange protocol, recently fell prey to a sophisticated impersonation scheme that targeted its Chinese community. Hayden Adams, the creator of Uniswap and CEO of Uniswap Labs, expressed his surprise and concern about the elaborate nature of the scam.

Uniswap price analysis shows a bullish trend is emerging as the crypto asset retraced above the $5.00 level. The market sentiment appears to be shifting as buyers attempt to push the UNI/USD pair higher.

Hayden Adams, the inventor of the Uniswap protocol, recently took to Twitter to express his astonishment at a scam that involved the creation of a fraudulent version of the Uniswap website. In a tweet, Adams stated, “Some next level effort went into this scam.

The price of Uniswap, the largest decentralized exchange by trading volume, is down roughly 35% from Q1 2023 peaks. Even so, on-chain data from Etherscan shows that there has been a steady increase in the number of UNI holders in the past two days.

According to the Uniswap price analysis, the bearish momentum is gaining further speed. Over the past week, there has been a notable downturn in price, and this downward trend persists today.

The Uniswap price analysis shows that bears have struggled to maintain dominance, resulting in a low price trend over the past two days. After peaking at $5.33, selling pressure emerged, leading to a downtrend.

Uniswap Labs, a leading decentralized finance (DeFi) platform, has recently conducted a survey to understand the motivations and barriers of US-based retail users towards DeFi. The survey received 1,860 responses, including non-crypto, centralized finance (CeFi), and DeFi users.

Three Uniswap governance members proposed deploying Uniswap v3 to Coinbase's layer 2 network Base on May 17. Aiming for day one launch Those governance members — she256, Michigan Blockchain 1, and GFX Labs 3 — collectively announced the proposal on Uniswap's forums.

The most recent Uniswap price analysis indicates that the token has been consolidating around $5.10 after a bearish run in the past few hours. UNI/USD was in an uptrend at the start of the day but has since declined sharply as bears took control of the market.

Brazilian retailer Americanas SA , which filed for bankruptcy earlier this year after an accounting scandal, said on Monday it has started the market sounding process to prospect parties interested in buying its stake in Grupo Uni.co.