In a landmark governance decision, Uniswap’s community has voted unanimously in favor of a proposal to reward UNI token holders who stake and delegate their tokens. The upgrade, aimed at revitalizing the protocol’s decision-making process, has garnered overwhelming support with over 10 million UNI tokens pledged in its favor.
Historic Vote to Reward UNI Holders Sets New Governance Precedent
The proposal heralds a transformative change in Uniswap’s governance architecture by facilitating the autonomous and systematic gathering of protocol fees. These will be allocated on a pro-rata basis to uniswap (UNI) holders who have proactively staked and delegated their votes.
This initiative aims to rejuvenate the protocol’s governance, motivating UNI holders to participate more actively, thus cultivating a stronger and more decentralized decision-making ecosystem. A snapshot of the voting has shown strong community backing for the initiative, with the proposal set to codify a new rule set into the UniswapV3Factory contract.
This upgrade not only aims to distribute protocol fees among engaged UNI holders but also seeks to enhance the governance mechanism, granting UNI holders greater influence over the protocol’s future direction. The Uniswap Foundation’s governance lead, Erin Koen, underscored the proposal’s goal to reward those who contribute to the protocol’s governance through active delegation and staking.
With unanimous support from the voting community and a clear pathway to implementation. The upgrade vote follows Uniswap’s introduction of a wallet extension, limit orders, and additional enhancements to the decentralized finance (defi) protocol.
Furthermore, Uniswap has rolled out comprehensive token and pool pages, real-time charts, transaction records, and pool analytics. Currently, UNI ranks as the 18th largest crypto asset by market cap, experiencing a 7.8% increase in the last day and an 11.8% rise over the past week. Over the past month, UNI’s value has escalated by 110% against the U.S. dollar.
Source : Bitcoin News by Jamie Redman / Mar 3, 2024