Uniswap (UNI) Surges 44% As Decentralized Exchange Reveals Fee and Token Burn Proposal
The native token of the decentralized crypto exchange Uniswap ( UNI ) has surged 44% in the last 24 hours after the Uniswap Foundation unveiled a new governance proposal.
The “UNIfication” plan would activate protocol fees and introduce a new token burn mechanism to align incentives and boost protocol growth.
The proposal redirects trading fees to burn UNI tokens in a move to create deflationary pressure.
The plan would also introduce a “growth” budget to fund protocol and ecosystem development starting next year, distributed quarterly.
Most Foundation team members will transition to Labs under a service agreement, with a lean team handling $100 million in remaining grants before closure.
DAO members will vote on the overhaul, which is the most significant since UNI’s 2020 launch.
UNI is priced at $9.55 at time of publishing, up 44% in the last 24 hours.
Featured Image: Shutterstock/Swill Klitch/Natalia Siiatovskaia
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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