Uniswap Price Pumps 17% Amid Potential Voting Power Shifts as this New Altcoin Also Looks Bullish

The post Uniswap Price Pumps 17% Amid Potential Voting Power Shifts as this New Altcoin Also Looks Bullish appeared first on Coinpedia Fintech News

Uniswap’s governance token UNI saw a significant price pump this week as a new proposal promises to shake up the protocol’s voting dynamics.

Alongside UNI’s 17% increase, a new altcoin named TG.Casino (TGC) is also making waves in its presale phase, nearing the $3 million funding milestone.

Proposal to Redistribute Voting Power Sends UNI Token Surging

The UNI token has been surging after a proposal to boost the voting power of certain delegates moved closer to being passed.

Under this plan, 10 million UNI tokens, valued at approximately $60 million, would be distributed from the DAO’s treasury to less influential delegates.

This shift promises to change the dynamics that have slowly consolidated voting power among a handful of major UNI holders.

The proposal’s author argues the plan is an experiment in accountability, as delegates would lose their voting power boost if participation drops below 80%.

However, critics question whether more voting will necessarily mean higher-quality voting.

Either way, the markets reacted positively to the potential upheaval, with UNI’s price climbing to $6.23 – its highest value since August.

CoinGecko sentiment analysis also highlights that the broader community is bullish on UNI’s prospects.

Whether the optimism will pay off remains to be seen, but the potential change has brought renewed attention to one of DeFi’s largest protocols.

Several Key Events Have Shaped Uniswap’s Trajectory in 2023

Uniswap has had an eventful year in 2023 so far, with several key events shaping its path.

The decentralized exchange’s trading volumes eclipsed Coinbase‘s in Q1 and Q2, demonstrating DeFi’s rising prominence.

Additionally, the releases of Uniswap v4 and UniswapX introduced new features and business models, such as the interface fee, which was not without controversy.

Uniswap also expanded its scope by supporting unique initiatives, including the first uranium-backed token.

The UNI token itself has been highly volatile, with price swings driven by factors such as investor sentiment towards altcoins.

UNI reached a yearly high of $7.63 on February 19, but still trades 18% below that peak.

However, this is much better than its performance in 2022, when the token’s value fell by 69%.

Overall, 2023 has proven that Uniswap remains one of the most closely watched protocols in the DeFi space.

Its ever-changing roadmap and ventures into new areas continue to boost demand for the native UNI token.

Trending TG.Casino Presale Builds Momentum as TGC Token Offers Unique Perks

With Uniswap now on the rise, another altcoin grabbing attention is TG.Casino (TGC) and its groundbreaking Telegram-based gaming platform.

Still in presale, TG.Casino has raised nearly $3 million as investors bet on its tokenomics that integrate staking, cashback, and profit-sharing perks.

Wagering with TGC unlocks 25% cashback on losses, paid weekly in the token itself.

This approach is designed to encourage gameplay while also reducing risk for users.

TGC stakers also benefit from token burn and profit-sharing programs – 40% of the tokens repurchased by TG.Casino are burned, while 60% are distributed to those who lock up their TGC in the staking pool.

The presale’s token allocation strategy, which reserves 40% of the total supply for investors, 20% for DEX liquidity, and 20% for staking rewards, aims to ensure stability and decentralization.

This high allocation for the presale has prompted significant buzz in TG.Casino’s Telegram community, with early backers able to purchase TGC tokens for $0.165.

TG.Casino is now over halfway to its $5 million funding goal, with some analysts, like Jacob Bury, speculating that it could have “10x potential” once listed on exchanges.

As both Uniswap and TG.Casino demonstrates, there is enormous potential in the world of DeFi as crypto adoption continues to ramp up worldwide.

Early investors can buy TGC tokens at tg.casino using ETH or USDT.