Uniswap Foundation proposal suggests turning on rewards for UNI token holders
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.
The Uniswap 
UNI
+0.23%
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 Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
