According to The Block, the governance organization of the decentralized exchange Uniswap, Uniswap DAO, has decided in an initial vote to continue its “Treasury Delegate Program,” which will allocate up to 18 million UNI tokens (worth approximately $113.4 million) to selected representatives. The proposal has currently received preliminary approval, and details will be finalized before being passed through an on-chain vote.
The first Treasury Delegate Program of Uniswap, titled “Delegating UNI to Active but Underserved Representatives,” began in December 2023. Its concept is to support those active representatives who vote on behalf of UNI token holders but have not been sufficiently authorized.
A community representative named Tane stated in the proposal, “This program is crucial for maintaining healthy governance and retaining active and capable representatives.” They cited performance data from previous funding programs, noting that since the program’s inception, “all representatives have participated in every vote, making the DAO healthier.”
If the new representative funding program is approved, approximately 12 selected representatives will receive 1 million UNI tokens as a reward for their governance participation. An additional 1 million tokens will be allocated to high-level representatives who meet “objective criteria,” including maintaining at least an 80% voting participation rate over the past three months.
Although the proposal has passed the “temperature check” phase, the Uniswap community remains divided on the issue. Only 60% of voting power expressed support, while nearly 30% of voters chose to abstain.