Uniswap community members are scrambling to update yield farming rewards for the automated market maker’s (AMM) native token UNI as the initial liquidity mining program sunsets on Nov. 17.
UNI liquidity mining allocations would be half of the original 2.5 million UNI tokens delegated per asset pool on a month-to-month basis. Farming rewards were first created in September for a limited two month run following a surprise airdrop of UNI tokens to the AMM’s developers, users and investors.
UNI is trading hands at $3.50, according to CoinGecko.
Uniswap’s total value under lock (TVL) first broke $1 billion in September after introducing UNI rewards. The AMM peaked at just over $3 billion in TVL on Nov. 13.
At the same time, competing AMM SushiSwap is apparently gunning for Uniswap’s liquidity. The rival AMM is discontinuing certain staking pools while reallocating yields to the expiring pairs on Uniswap (should the governance plan fail).
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