Uniswap proposes profit sharing to UNI, token price soars 50%

prices skyrocket

The Uniswap Foundation, which manages the finances of EVM-based crypto asset (virtual currency) DEX giant Uniswap, has submitted a proposal to change the governance of the UNI token. The content will be of benefit to UNI holders.

Until now, Uniswap fees have not been distributed to UNI token holders, but this may finally change. Following the offer, UNI's price has surged more than 50% and is currently trading at $11.28.

Source: Binance

The proposal proposed a fee mechanism to incentivize users who staked UNI tokens on the platform. “By tying delegation (staking) to the protocol’s fees, we want to incentivize not just delegation, but thoughtful and active delegation, and revitalize governance. Members should have an incentive to elect representatives who will vote and engage in protocols that will lead to Uniswap's growth and success.”

On-chain voting on this proposal is scheduled to take place on March 8th.

Similar proposals have been made before, but ultimately failed to pass. More than three years after the launch of the UNI token, discussions about strengthening UNI's utility, including redistributing fees, are once again active.

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