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Sujit Kumar
Sep 12, 2024
by Sujit Kumar

Uniswap CEO Denies Claims of Charging for Protocol Deployments

Uniswap CEO

Table of contents

  1. Allegations of Deployment Bribes
  2. Uniswap’s Regulatory Challenges
Uniswap protocol CEO Hayden Adams has responded to allegations claiming that Uniswap demanded payment from decentralized finance (DeFi) protocols for deployments. On September 12, Adams took to X (formerly Twitter) to dismiss the rumors, stating that neither Uniswap Labs nor the Uniswap Foundation charges fees for protocol deployments. Adams clarified that deployments are governed by community votes, while the requirements for deploying Uniswap's interface on a new blockchain are based on the effort needed per chain.

Allegations of Deployment Bribes

The controversy began when an X user, @wagmialexander, accused Uniswap of requesting $20 million for a “deployment,” in response to Millicent Labs co-founder Kene Ezeji-Okoye’s claim that Uniswap allegedly charged $10 million for protocol deployments with an additional $10 million for user incentives. Adams’ response highlighted that these claims were unfounded and not representative of how Uniswap operates.

Uniswap’s Regulatory Challenges

Uniswap has recently faced regulatory scrutiny, including a legal dispute with the U.S. Commodity Futures Trading Commission (CFTC) over providing leveraged cryptocurrency trading to U.S. retail investors. The company settled by paying a $175,000 fine and agreed to cease violating the Commodity Exchange Act. Additionally, the U.S. Securities and Exchange Commission (SEC) has accused Uniswap of operating an unregistered securities exchange. Uniswap maintains that it is a software company and not a broker or exchange.

With $4.35 billion in total value locked (TVL) as of September 12, Uniswap remains a key player in the DeFi space.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Uniswap CEO
Uniswap CEO Denies Claims of Charging for Protocol Deployments
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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