Token

Uniswap

April

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/uniswaps-uni-token-surges-following-governance-overhaul-proposal/" data-wpel-link="internal">Uniswap’s UNI Token Surges Following Governance Overhaul Proposal</a> 
Uniswap’s native token UNI, at the pinnacle of decentralized exchanges, excited investors with a surge of over 70% on Friday following an announcement by Erin Koen, the governance lead of the Uniswap Foundation, which signaled a proposal to overhaul the protocol’s governance system. 
<h2 id="comments-and-developments-on-uniswap">Comments and Developments on Uniswap</h2> 
According to the announcement, the proposal aims to “strengthen and revitalize” Uniswap’s governance, while also revealing that UNI token users who stake and delegate their tokens will be rewarded. 
Erin Koen shared the following words in a post: 
<blockquote> 
 I believe we need to upgrade the protocol to reward UNI token holders who stake and delegate their tokens through a fee mechanism. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-318913" src="https://coin-turk.com/wp-content/uploads/2024/02/koen-coin-turk-com.jpg" alt="" width="482" height="225"> 
Koen’s proposal is a significant development for the largest decentralized exchange by trading volume and indicates a departure from last year’s initiative to reward token holders with accrued fees. 
In June of last year, a critical vote by the Uniswap community rejected a proposal that would have introduced fees for many of the exchange’s liquidity pools and distributed a portion of the revenue among token holders. 
Following a move in October, the Exchange announced that it had implemented a fee of 0.15% on crypto swaps involving ETH, USDC, and other tokens launched in the protocol’s interface. 
If the proposal that emerged on Friday receives a positive response from the community vote, it will pave the way for the protocol to programmatically and permissionlessly collect fees, which will then be distributed proportionally among UNI token holders who participate in and authorize votes. 
<h2 id="what-is-the-current-price-of-uniswap-uni">What is the Current Price of Uniswap (UNI)?</h2> 
UNI hosted an incredible price movement in the past 3 hours. The altcoin, which soared from the $7 level, jumped nearly 75% to $13 within about 2 hours but later retreated to $11.11. 
This price level marked the highest price seen since April of the previous year. This price movement showed that UNI performed much better than <a href="https://en.coin-turk.com/bitcoins-future-bitcoin-in-a-consolidation-phase-michaal-van-de-poppe-says/" data-wpel-link="internal">Bitcoin</a>, ETH, and many other high-volume altcoins under stagnant market conditions. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-318915" src="https://coin-turk.com/wp-content/uploads/2024/02/uni-swap-coin-turk-com.png" alt="" width="1567" height="857"> 
Meanwhile, UNI’s market capitalization also saw an increase of over 50%, surpassing the $6.7 billion mark. The 24-hour trading volume of UNI increased by 1265%, reaching $1.3 billion. The RSI value of UNI is at 87, indicating it is at the peaks of overbought conditions. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/uniswaps-uni-token-surges-following-governance-overhaul-proposal/" data-wpel-link="internal">Uniswap’s UNI Token Surges Following Governance Overhaul Proposal</a></h5>

Uniswap’s UNI Token Surges Following Governance Overhaul Proposal

Table of Contents

COINTURK NEWS

Other articles published on Feb 23, 2024

Reddit converts excess cash into Bitcoin and Ethereum

The Turkish Central Bank Has Released CBDC Evaluation Report – Massive Surge in Crypto Interest L...

Reddit Reveals Bitcoin And Ether Holdings In IPO Filing

Bitcoin Demand Outstrips Supply as Halving Approaches

After Dencun, Ethereum devs set sights on Electra upgrade

On the dawn of Bitcoin (BTC) halving sees Ethereum (ETH) touch $3K and Crypto E-Commerce Pushd (P...

Join our free newsletter for daily crypto updates!