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The Uniswap UNI
+52.41%
The upgrades are intended to motivate a more thoughtful, engaged and active delegation, the proposal. This also included expanding the compensation mechanism to reward users who delegated and staked their UNI tokens on the platform.
“We are pleased to strengthen governance – not just by encouraging delegation, but also thoughtful and active delegation – by linking delegation to protocol costs,” Uniswap Foundation wrote in the proposal. “Specifically, we believe that UNI token holders will be incentivized to elect delegates whose votes and involvement in the Protocol will lead to the Protocol’s growth and success.”
A snapshot of the proposal will take place on March 1, followed by an on-chain vote on March 8.
Amid the proposal, UNI rose more than 47% from $7.11 to $10.47 at 9:52 a.m. ET on Feb. 23, The Block Price Page for UNI shows. The token experienced a price increase of 42.53% in the last 24 hours.
Uniswap token price chart | Source: Het Blok
About the author
MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering all crypto news, but with a bias toward NFT, metaverse, web3 gaming, finance, crime, hack, and crypto ecosystem stories. MK is a graduate of New York University’s Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.
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