- The Uniswap Foundation has proposed changes to the governance of the popular decentralized exchange project Uniswap.
- A poll vote for the proposal will take place on March 1, followed by an on-chain vote on March 8.
- During the proposal, UNI experienced an increase of over 60%, rising from $7.11 on February 23 to surpass $11.52. Currently, the UNI token price is trading at $11.58.
In an announcement made today, Uniswap Foundation caused the price of the UNI token to rise with the suggestion shared for Uniswap.
The Uniswap Foundation’s Announcement Boosts UNI Token
In an announcement made today, the Uniswap Foundation proposed changes to the governance of the popular decentralized exchange project Uniswap. The purpose of the proposal is stated to encourage more thoughtful, participatory, and active delegation.
This also includes increasing the fee mechanism to reward users who delegate and stake UNI tokens on the platform. The Uniswap Foundation stated, ‘We are excited about revitalizing governance by associating delegation with protocol fees – not just any delegation, but thoughtful and active delegation – believing that this will incentivize UNI token holders to choose their delegates; the votes and interactions of these delegates with the protocol will contribute to the growth and success of the protocol.’
The success of this proposal could lead to a transition to new delegations and more active existing delegations, added to the proposal. A poll vote for the proposal will take place on March 1, followed by an on-chain vote on March 8.
UNI Price Reaction
During the proposal, UNI experienced an increase of over 60%, rising from $7.11 on February 23 to surpass $11.52. Currently, the UNI token price is trading at $11.58. In the last 24 hours, UNI token trading volume has surged by over 500%, exceeding $700 million.
