The Uniswap Foundation, overseeing operations for the decentralized exchange Uniswap, has delayed the anticipated vote for UNI token staking and delegation rewards, initially set for Friday.

The decision to postpone the vote was prompted by a stakeholder who raised concerns with the Foundation, necessitating further examination before proceeding with the vote. The announcement of the delay coincided with a notable decline in UNI's price.

"In our previous announcement, we indicated that the first proposal to activate Uniswap Protocol Governance would be implemented on-chain today," the Foundation shared on social media platform X. "However, over the past week, a stakeholder raised new issues related to this initiative, requiring additional due diligence on our part. Given the significant implications and the sensitivity of the proposed upgrade, we have opted to postpone the voting process."

The Foundation expressed regret over the unexpected delay, assuring the community of transparent communication regarding any significant developments and updates regarding future timelines.

Following the announcement, the price of Uniswap's UNI token experienced a decline of 8.7% over the past day, trading at $10.20 as of 2:00 p.m. ET (18:00 UTC) on May 31, according to The Block Prices.

The proposal, introduced in February, was designed to reward dedicated Uniswap stakers and delegates for their active participation. In preparation for the originally scheduled vote on May 31, UNI holders were required to delegate their tokens on the platform before the voting commenced, as outlined by the Uniswap Foundation a week earlier.