- The Uniswap Foundation has made a proposal to change the governance of the protocol.
- The initiative involves rewarding stakers and those who delegate their tokens.
- On the back of the news, UNI’s exchange rate rose by more than 60%.
On February 23, 2024, a new proposal appeared on the official website of the Uniswap community. Among other things, the initiative would reward those UNI holders who staked and delegated their tokens.
The proposal was made by Erin Cohen of the Uniswap Foundation, a representative of the blockchain development support foundation. He said the decision is part of the organization’s larger efforts to encourage active and thoughtful delegation.
These include, for example, the launch of the Agora platform. It makes it easier to select delegates while making protocol management more efficient.
However, despite the measures taken, the current delegate system remains outdated, the note said. As of February 1, 2024, 14 out of 30 users in this category have not voted on the last 10 proposals, the organization added.
The essence of the Uniswap Foundation’s proposal is to introduce commission redistribution. This would involve integrating two new smart contracts.
They will allow redistribution of the fee among holders in the amount of 10% (1/10) to 25% (1/4). According to Token Terminal, Uniswap has received $305.4 million in commissions since August 2023. Consequently, UNI holders could expect to receive between $35.4 mln and $76.35 mln.
On the back of the news, Uniswap’s (UNI) exchange rate jumped more than 60%. At the time of writing, the asset is trading at $11.5, according to TradingView:
We previously reported that Uniswap developers plan to launch the fourth version of the protocol in Q3 2024.
