Uniswap’s Foundation has announced a plan to refresh its governance model, encouraging token owners to participate by offering rewards for token staking and delegation.
This initiative aims to improve the fee system of the network, aiming for greater involvement and sustainable growth.
Furthermore, the proposal includes introducing new smart contracts for efficient fee collection and sharing, which has garnered widespread community support.
Following this, the crypto community reacted positively, with UNI’s price jumping by over 60%. The team says that the foundation’s goal is to develop a resilient governance model, ensuring Uniswap remains a key player in internet liquidity.
Additionally, efforts to improve governance participation, such as the Delegate Race and upcoming GovSwap events, have shown positive effects.
The technical foundation of the proposal involves creating two new smart contracts that will blend smoothly with Uniswap’s current blockchain-based system.
In addition, these contracts are designed for straightforward fee collection and distribution to active UNI holders, maintaining governance’s control over critical protocol aspects, and encouraging meaningful engagement.
The proposal’s timeline includes a Snapshot vote on March 1, followed by an on-chain vote on March 8.
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