Uniswap Foundation, What is the Governance Fee Structure Change Proposal?

The price of UNI token , the governance token of decentralized exchange Uniswap , jumped more than 40% in less than an hour, from $7.24 to $10.22. This price increase was triggered by a new proposal from the Uniswap Foundation.

The proposal aims to improve Uniswap's governance system in the following ways.

• Collect protocol fees (fees).
• Distribute these fees proportionally to UNI token holders who have staked and delegated their voting votes.
• Continue to provide full authority to governance to set core parameters related to costs.

According to the Uniswap Foundation, these changes will increase the resilience and decentralization of Uniswap governance. Currently, even though Uniswap has become a market leader, its governance is still minimal.

Erin Koen, head of governance at the Uniswap Foundation stated that maintaining a leading position will become increasingly difficult due to the fragmentation of liquidity across blockchains, the emergence of intentions and MEV (Maximal Extractable Value), as well as increasingly fierce competition.

This proposal requires UNI staking for delegates, which is expected to make Uniswap governance more stable and durable.

Devin Walsh, executive director of the Uniswap Foundation, emphasized that this proposal aims to encourage active and thoughtful delegation, which we believe will lead to the success and long-term sustainability of the Protocol.

Blockworks research analyst Matt Fiebach is optimistic that this proposal will be approved. While previous attempts to enable cost shifting failed, I believe this time is different, and this proposal has the potential to succeed.

Support from the Foundation, combined with continued research and development, makes this cost-shifting proposal more credible. It is unlikely that the Foundation would have taken this step without first conducting a careful examination of the sentiments of its largest stakeholders.

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Get to know the Uniswap Foundation

The Uniswap Foundation is an organization associated with Uniswap, a decentralized trading protocol (decentralized exchange or DEX) that runs on the Ethereum blockchain network. However, it is important to note that this information may no longer be relevant or have changed since then.

The Uniswap Foundation acts as an entity that supports the development and growth of the Uniswap ecosystem. Its main focus includes research and development, education and outreach on decentralized trading, as well as providing resources and funding for Uniswap-related projects.

During the first few years, the Uniswap Foundation played a key role in guiding the development of the Uniswap protocol and providing support to developers and projects contributing to the Uniswap ecosystem. However, since then, management of Uniswap may have changed or adapted according to changes in the project structure and governance.

Please note that information regarding organizations such as the Uniswap Foundation may change over time, and may no longer be current. For the most up-to-date information about Uniswap or its associated organizations, it is recommended to refer to Uniswap's official sources and the latest news in the crypto industry.

Also Read How to Buy Crypto:

How to Buy UNI on Bittime

After knowing what UNI is and how it works, are you interested in buying and investing in this crypto asset? You can do it at Bittime. UNI tokens are available on Bittime in the  UNI IDR pairing. 

 Below is a guide on how to buy UNI tokens on Bittime. 

1. Register an account at Bittime using an active email. 
2. Complete the identity verification process.  
3. Once the account is verified, open the Bittime application.
4. Select the Market menu or click the graphic icon. 
5. Select the IDR pairing to buy UNI with Rupiah.
6. Click 'Buy'.
7. Select the order type to use. Limit orders, market orders and stop orders are available.
8. Enter the nominal rupiah to buy UNI.
9. Click the 'Buy UNI' button. 
10. A notification pop up will appear. Read it carefully and click 'Confirm'. 
11. Enter the six digit Transaction PIN.
12. The application will display a successful order notification. 

For a complete guide on how to buy UNI, click  here .

Apart from buying UNI tokens, you can also buy various crypto assets such as BTC, ETH, SOL, ADA, AVAX, DOGE, and many others. Don't forget, keep monitoring ORDI, BTC, ETH, SOL price chart movements today to find out crypto market trends  on Bittime. 

Crypto asset buying and selling transactions on Bittime are easy, safe and instant. Bittime is officially registered and supervised by Bappebti and Kominfo. 

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DISCLAIMER : This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.