THE Uniswap United
-2.25%
The improvements aim to motivate a more thoughtful, engaged and active delegation, according to the proposal. This also involved increasing the fee mechanism to reward users who delegated and staked their UNI tokens on the platform.
“We are excited to reinvigorate governance – encouraging not only delegation but also thoughtful and active delegation – by tying delegation to protocol fees,” the Uniswap Foundation wrote in the proposal. “Specifically, we believe that UNI token holders will be incentivized to choose delegates whose votes and commitment to the protocol will lead to the growth and success of the protocol.”
A snap vote for the proposal will take place on March 1, followed by a chain vote on March 8.
Amid the proposition, UNI surged more than 47%, from $7.11 to $10.47 as of 9:52 a.m. ET on Feb. 23, as shown on the Block Price page for UNI. The price of the token increased by 42.53% in the last 24 hours.
Uniswap Token Price Chart | Source: The Block
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About the Author
MK Manoylov has been a reporter for The Block since 2020 – he joined just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering all crypto news, but with a bias towards NFT, metaverse, Web3 gaming, funding, crime, hacking and ecosystem stories cryptographic. MK holds a graduate degree from New York University’s Science, Health, and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.
