The governance proposal “Initiate Uniswap Protocol Governance” put forward by the Uniswap Foundation last month has unanimously passed a temperature check vote. The proposal aims to modify the governance mechanism of the decentralized exchange Uniswap, including changing its fee mechanism to incentivize users who authorize (delegate) and stake the native token UNI on the platform.
The temperature check vote is a snapshot poll designed to gain initial insights into the Uniswap community’s views on advancing the proposal. The vote began on March 1st and ended in the early morning of March 7th (Taiwan time). The results showed 100% support from representatives for the proposal, and the Uniswap Foundation will now proceed with an on-chain vote today.
In the proposal, the Uniswap Foundation stated:
“If the on-chain vote succeeds, the community can choose to activate the fee feature, enabling the Uniswap protocol to automatically collect and distribute fees to voting UNI token holders, as well as allowing governance control over fee-related settings. Prior to the successful conclusion of the on-chain vote, the Uniswap Foundation will launch an Immunefi bug bounty program.”
Following the release of the proposal on February 23rd, the price of UNI immediately surged over 50%, reaching around $11.4. Its current trading price is $14.9, with an increase of approximately 11% in the past 24 hours and over 150% in the past month.
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