Uniswap Foundation proposal suggests turning on rewards for UNI token holders

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The Block2024/02/23 15:18

By:The Block

Quick Take: Uniswap Foundation has proposed changes regarding Uniswap’s community governance. One notable upgrade would change the fee mechanism to reward users who delegated and staked their UNI tokens.

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The Uniswap Foundation proposed changes in the governance of popular decentralized exchange project Uniswap.

The upgrades aim to motivate more thoughtful, engaged and active delegation, according to the proposal . This also included augmenting the fee mechanism to reward users who delegated and staked their UNI tokens on the platform.

"We’re excited to invigorate governance — incentivizing not only delegation but thoughtful and active delegation — by tying delegation to protocol fees," Uniswap Foundation wrote in the proposal. "Specifically, we believe UNI token holders will be incentivized to choose delegates whose votes and engagement with the protocol will lead to the Protocol’s growth and success."

A snapshot vote for the proposal will occur on March 1 followed by an on-chain vote on March 8.

Amid the proposal, UNI jumped over 47% from $7.11 to $10.47 at 9:52 a.m. ET on Feb. 23, The Block Price Page for UNI shows. The token experienced a 42.53% price increase over the past 24 hours.

Uniswap token price chart | Source: The Block

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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