It's been a long few months since UNI's arrival. The governance token sparked new interest in the exchange, causing UNI's price to soar to $5 as 400 tokens were airdropped to anyone who interacted with the protocol before September 1 (I was 5 days late, aughhh!). The four pools that received yield farming programs were the ETH-Dai, ETH-WBTC, ETH-USDT, and ETH-USDC pools. In total, over $700,000,000 worth of crypto was deposited into the pools!
Now, it's November 17, and the liquidity mining pools have ended. Since then, many liquidity providers have chosen to withdraw their positions. Compared to November 13, almost half of all liquidity in Uniswap was withdrawn, from $3.3b to $1.78b, presumably because the liquidity mining rewards have ended and now there isn't much incentive to provide, besides the 0.3% trade fee. As well as the big liquidity removal, UNI's price has fallen from $4.20 (nice) earlier this week to $3.57 (not nice) now.
The TokenSets liquidity mining Sets are also not mining anymore, so it'll be interesting to see if the underlying tokens will still affect the Set prices.
What do you all think of the end of the yield farming? Are you happy or sad about it? I personally have not provided liquidity (blame high gas prices) but it is likely that the end of liquidity mining could affect ETH and other tokens.
