The Uniswap Foundation has announced a proposal aimed at upgrading protocol governance, specifically focusing on the redistribution of protocol fees to UNI token holders. Snapshot voting for the proposal has commenced, with voting open until March 7.

The proposal entails upgrading the owner of the mainnet UniswapV3Factory contract, allowing for permissionless and programmatic collection of protocol fee revenue. This move is significant as it aims to enhance the governance structure of the Uniswap protocol, providing UNI token holders with a more active role in decision-making processes.

As of the latest update, the Snapshot voting results indicate overwhelming support for the proposal, with a substantial number of UNI tokens in agreement with the upgrade. The community’s response underscores the importance of this proposal and highlights the unity within the Uniswap ecosystem in driving governance changes.

Impact on UNI Price and Market Reaction

Following the proposal announcement, the price of UNI token price experienced a notable surge to over $13.08, reflecting the market’s positive response to the proposed governance changes. Investors showed increased confidence in Uniswap’s future direction, leading to a significant uptick in UNI price.

The UNI token price saw a remarkable 15% increase, directly correlating with the unveiling of the governance proposal. This surge indicates a bullish sentiment among investors, who view the proposed upgrades as favorable for the Uniswap ecosystem. The market’s reaction underscores the importance of governance decisions in shaping cryptocurrency valuations.

Also Read: Cardano (ADA) Price Jumps 12% In Pursuit of $1, Major Rally Coming?

Uniswap Community Encouraged to Participate in Governance Process

The proposal put forward by the Uniswap Foundation marks a significant step towards enhancing protocol governance and community involvement. The overwhelming support from the Snapshot voting and the positive market reaction demonstrate the community’s enthusiasm for these changes. The proposal’s success could pave the way for a more inclusive and decentralized Uniswap ecosystem.

As the governance process unfolds, the Uniswap community is urged to actively participate by voicing their opinions and casting their votes in the Snapshot poll. By engaging in governance decisions, community members can shape the future of Uniswap and contribute to its continued growth and success. For more information and to join the conversation, please visit the official Uniswap channels.

Also Read: Dogwifhat (WIF) Price Rally: This Trader Turns $310 to $3.12 Million In 3 Months

The post UNI Price Soars 15% After This Key Proposal by Uniswap Foundation appeared first on CoinGape.

---

Filed under: News - @ January 1, 1970 12:00 am