1inch Network

Uniswap

USDC

<a href="https://bitcoinworld.co.in/uniswap-governance-working-to-give-more-voting-power-to-dao-delegates/" title="Uniswap Governance Working To Give More Voting Power To DAO Delegates" rel="nofollow"></a>
<ul> 
 <li style="font-weight: 400">Uniswap governance proposes more voting power to under-represented DAO delegates.</li> 
 <li style="font-weight: 400">UNI Price Skyrockets 20% as a result.</li> 
</ul> 
Uniswap governance is currently working on a proposal. The proposal seeks to delegate 10 million UNI from the DAO’s treasury to underrepresented delegates. 
The top four candidates get up to 2.5 million UNI, and the rest of the tokens will be equally delegated to other candidates. 
The <a href="https://gov.uniswap.org/t/temperature-check-delegation-of-uni-to-active-but-underrepresented-delegates/22238">proposal</a>, currently in ‘temperature check’, now faces an on-chain vote before delegates would receive UNI from the DAO’s treasury. 
Moreover, the tokens would not be tradeable, just used by these delegates for voting purposes, increasing their say in governance proposals. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 4/ 1inch Vote 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4dd.png" alt="📝" class="wp-smiley" style="height: 1em; max-height: 1em;"> This vote ratifies the selling of ~2.5M ARB tokens from the 1inch DAO to USDC on Arbitrum. The USDC will be sent to DAO’s treasury &amp; the funds will be used to grow the 1inch Network &amp; improve DAO’s financial position 
 Leading Consensus: Yes – 11M UP (92.58%) <a href="https://t.co/2KYZPJPlOt">pic.twitter.com/2KYZPJPlOt</a> 
 — Wintermute (@wintermute_t) <a href="https://twitter.com/wintermute_t/status/1727381608393785399?ref_src=twsrc%5Etfw">November 22, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h3 id="span-style-font-weight-400-uniswap-governance-improvements-span">Uniswap Governance Improvements</h3> 
Uniswap’s DAO allows token holders to either vote themselves or delegate their voting power to another entity. There are more than 30 delegates with at least 2.5 million delegated votes. This is the level at which delegates are deemed “underrepresented.” 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/uniswap-earned-more-than-1m-in-transaction-fees-in-one-month/" aria-label="“Uniswap Earned More Than $1m In Transaction Fees In One Month” (Edit)">Uniswap Earned More Than $1m In Transaction Fees In One Month</a> 
StableLab, the governance service provider that made the delegation proposal would also receive governance tokens were it to pass. The proposal noted: 
“Many top delegates with considerable voting power have less than 50% vote participation rate, and some even as low as 10% or 0%,” 
Uniswap governance has been heavily criticized in the past due to voting being dominated by just a handful of UNI whales such as a16z, Dharma, and Gauntlet. 
The current system remains centralized in the hands of these huge token holders so smaller delegates have little chance to have their votes matter. 
Several proposals have been passed in previous years due to the voting power of just a single entity. In 2020, Dharma proposed dropping the quorum threshold from 40 million UNI, or 4% of the total, to 3% giving it even more voting power. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/a-uniswap-user-lost-700000-to-an-mev-bot-but-it-only-made-260/" aria-label="“A Uniswap User Lost $700,000 to an MEV Bot — But it Only Made $260” (Edit)">A Uniswap User Lost $700,000 to an MEV Bot — But it Only Made $260</a> 
<h3 id="span-style-font-weight-400-uni-price-skyrockets-span">UNI Price Skyrockets</h3> 
Uniswap prices have skyrocketed over the past 24 hours though it remains to be seen whether this is directly related to the proposal. 
UNI has climbed from $5.25 to hit an intraday and 14-week high of $6.26 during the Thursday morning Asian trading session. It is currently up 18% on the day outperforming the rest of the crypto markets. 
The DeFi exchange token has made 42% over the past month as crypto markets recover. However, UNI remains down 86% from its May 2021 all-time high of $44.92. 
<figure id="attachment_56172" aria-describedby="caption-attachment-56172" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-56172" src="https://bitcoinworld.co.in/wp-content/uploads/UNI-Price-Chart-440x300.png" alt="" width="565" height="385" srcset="https://bitcoinworld.co.in/wp-content/uploads/UNI-Price-Chart-440x300.png 440w, https://bitcoinworld.co.in/wp-content/uploads/UNI-Price-Chart-733x500.png 733w, https://bitcoinworld.co.in/wp-content/uploads/UNI-Price-Chart.png 768w" sizes="(max-width: 565px) 100vw, 565px">
 <figcaption id="caption-attachment-56172" class="wp-caption-text">
 UNI Price Chart | Source: <a href="https://coinstats.app/coins/uniswap/">Coinstats</a>
 </figcaption>
</figure> 
&nbsp; 
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote> 
The post <a href="https://bitcoinworld.co.in/uniswap-governance-working-to-give-more-voting-power-to-dao-delegates/">Uniswap Governance Working To Give More Voting Power To DAO Delegates</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Uniswap Governance Working To Give More Voting Power To DAO Delegates

Table of Contents

ItsBitcoinWorld

Other articles published on Nov 23, 2023

Uniswap Skyrockets 16% Making a 3 Month High. Time To Buy?

Ethereum Maintains $2000 Amidst Market Turmoil

Top Three Cryptocurrencies to Invest in Now Before the Opportunity Passes

XRP Poised for December Surge, CEO Kaj Leroy Claims

Nigeria Wants to Join BRICS Within 2 Years

AVAX rises following Onyx collaboration, InQubeta (QUBE) and Fetch.AI (FET) among top AI cryptos ...

Join our free newsletter for daily crypto updates!