Pepo, an important contributor to the Uniswap DAO, announced his resignation on Monday. As one of the top twenty representatives holding 455,000 UNI tokens, Pepo stated that the reason for his resignation was the excessive power and lack of transparency of the Uniswap Foundation.
In March of this year, the foundation received a DAO grant of $165 million for ecosystem development, but was criticized for prioritizing its own interests over those of the DAO. In addition, Billy Gao, Vice Chairman of the Stanford Blockchain Club, and others also expressed concerns about Uniswap Labs launching its own blockchain without discussion with the DAO.