- The Uniswap Foundation’s proposal to redistribute commissions received support from 100% of users.
- Voting took place from March 1 to March 6, 2024.
- As part of the initiative, developers will launch new smart contracts to change the mechanism of award accrual.
On March 6, 2024, voting on the proposal to redistribute commissions to participants who delegate or steak Uniswap tokens (UNI) ended. The initiative was supported by 100% of users.
Nearly 2,500 UNI holders participated in the vote. The essence of the proposal is to launch two smart contracts that allow charging and redistributing commissions. The share of UNI holders can be from 10% to 25%.
The proposal was made by Erin Cohen of the Uniswap Foundation, a representative of the blockchain development support fund. He said the decision is part of the organization’s larger effort to encourage active and thoughtful delegation.
“We believe that UNI token holders will have a vested interest in selecting delegates whose votes and participation in the protocol will lead to the growth and success of the protocol,” the foundation said in its proposal.
The Uniswap Foundation’s initiative has been praised in the community. In particular, the Frax Finance decentralized protocol team plans to implement a similar solution.
On the last day of voting, the UNI token grew by more than 20%. At the moment, its price reached $17. At the time of writing, the asset is trading near $15, according to TradingView.
As a reminder, the Uniswap team introduced uni.eth domains at the end of February 2024. In addition, the developers plan to release an updated version of the Uniswap V4 protocol in the third quarter.
