that much Uniswap UNI
+55.62%
According to the proposal, the upgrades aim to motivate more thoughtful, engaged and proactive delegates. This also included strengthening the fee mechanism to reward users who delegate and stake their UNI tokens on the platform.
“We are excited to enable governance by tying delegation to protocol fees, encouraging not only delegation, but thoughtful and active delegation,” the Uniswap Foundation wrote in the proposal. “Specifically, we believe UNI token holders will be incentivized to vote on the protocol and select delegates whose participation will lead to the growth and success of the protocol.”
A snapshot vote on the proposal will take place on March 1st, followed by an on-chain vote on March 8th.
Amid this offering, UNI jumped more than 47%, from $7.11 to $10.47 as of 9:52 a.m. ET on February 23, according to UNI’s block pricing page. The token price has 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, joining just before Bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for publications covering all cryptocurrency-related news, preferring NFTs, metaverse, web3 games, fundraising, crime, hacking, and cryptocurrency ecosystem stories. 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. X You can follow MK at @MManoylov and on LinkedIn.