Today, Uniswap’s governance released a proposal led by Erin Koen. On March 1, there will be a snapshot vote on the proposal, and on March 8, there will be on-chain voting.
UNI increased by more than 15% after that, representing a 50% increase in the previous day. At its greatest point since January 2022, the token was valued at $12.19 today.
The plan aims to strengthen and revitalize Uniswap’s governance framework. It will signal a departure from earlier attempts to reimburse token holders with accrued fees and represent a turning point for the top DEX in terms of trading volume if allowed.
A prior plan that was turned down by the Uniswap community in June of last year called for charging for using various liquidity pools on the exchange and giving token holders a share of the fees collected. In October, the exchange began charging a 0.15% charge for transactions made through its platform including popular cryptocurrencycurrencies like USDC and ETH.
The planned governance revamp will enable the automated and unfettered collection of protocol fees if the community accepts it next week. Following this, fees will be allocated proportionately to holders of UNI tokens who have staked and assigned their voting rights, representing a major change in the way the platform functions and benefits its users.
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