Token

Uniswap

Foundation

<div class="dailyhodl">
 <p>Decentralized crypto exchange Uniswap (UNI) is skyrocketing after an upgrade was proposed to reward its token holders.</p>
 <p>In a new announcement, The Uniswap Foundation says the protocol’s governance lead has put forth a proposal that would reward traders who have staked and delegated UNI.</p>
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 <p>According to the team, the proposal is of utmost importance to the long-term success of the protocol.</p>
 <p><em> “Potential Impact: decentralized, resilient, and engaged governance is imperative to the long-term health and success of the protocol. We believe this upgrade will strengthen and invigorate Uniswap governance.”</em></p>
 <p>News of the proposal sent UNI flying, as the digital asset went from its seven-day of $7.06 to a peak of $11.62 in just 24 hours, a gain of just over 50%. UNI has since retraced and is trading for $11.20 at time of writing.</p>
 <p>According to the Uniswap Foundation, the proposal will bring in fresh delegates who are proven to be committed to the project.</p>
 <p><em>“We believe UNI token holders will be incentivized to choose delegates whose votes and engagement with the protocol will lead to the Protocol’s growth and success.</em></p>
 <p><em> If this proposal succeeds we believe we will see an influx of new delegation. And because existing delegators will be required to re-delegate to stake their tokens, we will see a shift of ‘stale’ existing delegation to delegates who have proven their commitment to supporting the protocol. </em></p>
 <p><em>Further, this mechanism can run on its own into the future – continuing to incentivize engaged delegation, without requiring any additional facilitation.” </em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/uniswap-soars-over-50-in-24-hours-after-protocol-upgrade-proposal-to-reward-token-holders-put-forward-tbt80671.html">https://thebittimes.com/uniswap-soars-over-50-in-24-hours-after-protocol-upgrade-proposal-to-reward-token-holders-put-forward-tbt80671.html</a></p>

Uniswap Soars Over 50% in 24 Hours After Protocol Upgrade Proposal To Reward Token Holders Put Forward

TheBitTimes

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