Uniswap, an Ethereum-based decentralized exchange (DEX), stands at the brink of a transformative shift in the decentralized finance (DeFi) sector.

A new governance proposal seeks to redirect protocol fees to UNI token holders, marking a significant stride in democratizing the network.

Uniswap Community Supports New Proposal

Snapshot voting indicates overwhelming community backing for the fee reward proposal, slated to conclude by March 7.

The proposal entails upgrading the UniswapV3Factory contract and empowering seamless and programmatic collection of protocol fee revenue. This strategic move aims to fortify the governance framework, endowing UNI token holders with heightened influence over decision-making processes.

“Specifically, we propose to upgrade the protocol such that its fee mechanism rewards UNI token holders that have delegated and staked their tokens,” Erin Koen, Governance Lead at Uniswap Foundation, outlined.

Essentially, the revamped governance structure of Uniswap aims to incentivize active engagement among UNI token holders, thereby bolstering the protocol’s sustainability and fostering its expansion.

Read more: How To Buy Uniswap (UNI) and Everything You Need To Know

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Author: Oluwapelumi Adejumo

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