The governance proposal “Initiate Uniswap Protocol Governance” put forward by the Uniswap Foundation last month has been unanimously approved through a temperature check vote. The proposal aims to modify the governance mechanism of the decentralized exchange Uniswap, including changing its fee structure to reward users who delegate and stake Uniswap’s native token UNI on the platform.
The temperature check vote is a snapshot survey designed to preliminarily gauge the Uniswap community’s views on advancing the proposal. The vote began on March 1st and ended in the early hours of March 7th Taiwan time, with the result showing 100% of representatives in favor of the proposal. Next, the Uniswap Foundation will conduct an on-chain vote today.
In the proposal, the Uniswap Foundation stated that if the on-chain vote is successful, the community can choose to activate the fee feature, allowing the Uniswap protocol to automatically collect and distribute fees to UNI token holders who vote, and to govern the settings related to control and costs. The Uniswap Foundation has also announced the launch of an Immunefi bug bounty program before the successful on-chain vote ends.
Following the release of the proposal on February 23rd, the price of UNI immediately surged by 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.