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Uniswap Outperforms Bitcoin in Fees After Governance Proposal

Uniswap Outperforms Bitcoin in Fees After Governance Proposal

TL;DR

  1. Uniswap’s Earnings Surge: Uniswap, a decentralized crypto trading platform, has seen a significant increase in its earnings, surpassing Bitcoin. This surge follows a proposal to overhaul Uniswap’s governance system, rejuvenating the protocol’s decision-making process.
  2. UNI Price and Governance Proposal: Following the governance proposal, Uniswap’s governance token (UNI) saw a significant price surge, jumping as much as 60%. The proposal, if approved, would enable the permissionless and programmatic collection of protocol fees.
  3. Future of Uniswap: The proposed changes signify a promising future for Uniswap and its stakeholders, potentially leading to more decentralized, resilient, and engaged governance. Investors are keenly observing the forthcoming votes, prepared to capitalize on the potential benefits.

Uniswap, the DeFi crypto trading platform, has seen a significant surge in its earnings, surpassing Bitcoin. This comes after a proposal to overhaul Uniswap’s governance system, which has rejuvenated the protocol’s decision-making process.

The proposal, put forth by Erin Koen, the governance lead of Uniswap Foundation, is designed to “fortify and energize” the governance of Uniswap. It suggests rewarding UNI token holders who have staked and delegated their tokens. This marks a departure from last year’s initiative to reward token holders with accrued fees.

Following the proposal, Uniswap’s governance token (UNI) saw a significant price surge, jumping as much as 60%. This has led to Uniswap outpacing Bitcoin in fees paid by crypto traders for over a week. On February 25, Uniswap raked in around $1.9 million in fees, surpassing Bitcoin’s $1.2 million on the same day.

The proposal, put forth by Erin Koen, the governance lead of Uniswap Foundation, is designed to “fortify and energize” the governance of Uniswap. If approved in a community vote, it would enable the permissionless and programmatic collection of protocol fees, and distribute them pro-rata to UNI token holders who have staked and delegated their votes.

Uniswap Team Sells 90,000 UNI Amid Price Surge

Uniswap Outperforms Bitcoin in Fees After Governance Proposal

In the midst of this, a wallet associated with the Uniswap team sold 90,000 UNI for 1.03 million USDC at $11.48 after the price of UNI increased. Despite this, the wallet still holds 926,000 UNI, worth approximately $10.63 million.

The cryptocurrency UNI has seen a significant rise in its value, with an increase of 67%, hitting a high of $12.79. This surge marks one of the most notable trading periods since January 2022. The price increase is a response to Uniswap’s introduction of a revenue-sharing model designed for UNI holders.

Investors are keenly observing the forthcoming votes, prepared to capitalize on the potential benefits brought about by the progression of the Uniswap ecosystem. Uniswap, being the largest decentralized exchange, continues to amass considerable fees, with a total of $71.6 million accumulated in the past 30 days.

This development signifies a promising future for Uniswap and its stakeholders. The proposed changes could potentially lead to a more decentralized, resilient, and engaged governance, imperative to the long-term health and success of the protocol.

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