Nick Chong, Analyst @ CryptoSlate published an interesting article where he said that *When the project’s governance token released in September, a yield farming opportunity was launched that allowed users to earn UNI by depositing liquidity into the decentralized exchange. This rapidly became one of the most popular yield farms, garnering $1 billion, then $2 billion worth of deposits over the span of mere weeks.*
It's also the reason why UNI's price is above got hit 3.33 USDT and it's still keeping it on 3.23 USDT.
However. Nick said:
According to Darryl Wang, an investment analyst at leading DeFi fund DeFiance Capital and a former JPMorgan investment banker, around $1.1 billion worth of ETH and that much in stablecoins in Wrapped Bitcoin will soon exit Uniswap’s staking pools.
The UNI yield farming opportunity launched with the token will end unless soon extended.
That raises the question of where that capital will go.
So, if you are interested in this topic, please go *HERE* to read the full article.
Thanks for your priceless attention and have a good life!
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