- The Uniswap Foundation has made a proposal to change the protocol governance system.
- The initiative involves rewarding stakers and those who delegate their tokens.
- As a result of the news, the UNI rate rose by more than 60%.
On February 23, 2024, a new offer appeared on the official website of the Uniswap community. Among other things, the initiative provides rewards for those UNI holders who have staked and delegated their tokens.
The proposal was made by Erin Cohen, a representative of the Uniswap Foundation blockchain development support fund.. The decision is part of the organization’s broader efforts to encourage active and thoughtful delegation, he said.
These measures include, for example, the launch of the Agora platform. It allows you to simplify the selection of delegates while making protocol management more efficient.
However, despite the measures taken, the current delegate system remains outdated, the note states.. As of February 1, 2024, 14 of the 30 users in this category had not voted on the last 10 proposals, the organization added.
The essence of the Uniswap Foundation’s proposal is to introduce redistribution of commissions. To do this, it is necessary to integrate two new smart contracts.
They will allow you to redistribute the fee among holders in the amount of from 10% (1/10) to 25% (1/4). According to Token Terminal, Uniswap has received $305.4 million in commissions since August 2023.. Therefore, UNI holders could expect to receive between $35.4 million and $76.35 million.
Amid the news, the Uniswap (UNI) rate jumped by 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 the third quarter of 2024.