The Defi lobbying fund of the world’s biggest decentralized exchange, Uniswap, was criticized because of the massive sale of UNI tokens that reached half a million. The 500,000 UNI crypto sale of Uniswap made sense given the issues it highlighted in a blog post published on July 15.
According to a blog, the world’s top decentralized exchange (DEX) announced a sale on Tuesday of almost half of the assets from UNI, the leading DEX, converting these funds to $10.2 million USDC for the Defi Education Fund (DEF).
When this news hit the community, there was considerable reaction due to criticisms about centralization and the fact that no additional transparency had been made on the fund supported by the HLBFI and the Harvard Law Blockchain and Fintech Initiative (HLBFI).
Uniswap insiders may have already moved, as researcher Igor Igamberdiev pointed out that they may have sold tokens ahead of the $10 million token sales.
About Defi Education Fund
Most of the Defi Education Fund’s expenditures would be denominated in dollars. Therefore the UNI funds have to be converted into dollars. “Diversifying half of the 1M total allocation provides the DEF with a sustainable budget to weather any market downturns and allows the DEF to rapidly get to work,” the team said.
The statement claims that authorities and politicians across the globe are paying more attention to Defi. The fund was established to assist educational activities and to advance the developing financial industry via political advocacy.