UNI Token Price Soars: Uniswap’s Announcement Makes Headlines!

  • 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

Uniswap (UNI)

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.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Arizona Set to Make History with Bitcoin Reserve Bills: A Potential First in the U.S.

On April 27th, **COINOTAG** reported that Arizona's legislative assembly...

Ethereum Sees 16,913 ETH Net Issuance in a Week: Total Supply Reaches 120.7 Million

COINOTAG News reports for April 27th that recent data...

Bitcoin Poised to Surpass All-Time High as Funding Rates Remain Negative, Says CryptoQuant Analyst

COINOTAG News, April 26th – Analyst Avocado from CryptoQuant...

Bitcoin Investor Sentiment Improves Amid Tariff Talks, But Weekend Volatility Risks Remain

The latest update from COINOTAG on April 26th highlights...

Bitcoin Faces Strong Resistance: Key Price Range of $94,125 to $99,150 Analyzed by Expert

On April 26th, COINOTAG reported that cryptocurrency analyst @ali_charts...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img