Uniswap Community Unites: 100% Vote in Favor of Revenue-Sharing for Stakers

In a groundbreaking move that has the entire crypto community buzzing, Uniswap’s governance token, UNI, has seen a unanimous vote in favor of a revenue-sharing proposal. The preliminary results from the vote, which concluded earlier today, showed a 100% agreement among voters, representing 55 million UNI tokens, to support the initiative.

The proposal, which was initiated on March 2nd, aims to distribute a portion of the protocol’s fee revenue to users who have staked or delegated their UNI tokens. Since the idea was first proposed, it has received an enthusiastic response from the community.

Although the results are from a preliminary survey, known as a temperature check, they pave the way for the official vote to activate the proposal, scheduled to start on March 8th.

Following the positive trend, UNI’s price has once again stirred the market. In the last 24 hours, the token has surged over 20%, hitting the $17 mark for the first time since January 2022. This growth has notably outperformed Bitcoin’s 3% recovery after its sudden drop from the $69,000 mark yesterday. Estimates suggest that the new initiative could yield annual dividends ranging from $62 million to $156 million for UNI holders.

Moreover, Uniswap’s program is expected to set a positive precedent, inspiring other DeFi protocols to adopt similar revenue-sharing plans. For instance, Frax Finance has also recently revealed plans for a comparable revenue-sharing model.

However, this token reward program could attract regulatory attention. Certain assets might be classified as securities if they meet the criteria of the Howey test, as noted by representatives from 21Shares.

This development marks a significant moment for decentralized finance, potentially heralding a new era of user-centric economic models within the crypto space.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

Follow us on Reddit

You might also like