Uniswap (UNI) has experienced a remarkable 40% surge in just seven days, driven by the Uniswap Foundation’s announcement of plans to distribute fees back to staked UNI token holders who actively engage with the network.
The Uniswap Foundation has put forth a proposal aimed at enhancing the governance structure of the Uniswap protocol. The proposal entails distributing protocol fees to UNI token holders who stake their tokens and delegate their voting rights.
A snapshot vote on the proposal is scheduled for March 1, followed by on-chain voting commencing on March 8. If approved, this proposal could redefine how Uniswap compensates token holders, signaling a departure from previous strategies.
Following the announcement, UNI experienced a notable 60% surge in a single day, reaching $12, its highest point since January 2022.
Uniswap’s weekly chart reveals a two-year sideways trend, but the recent surge challenges this resistance, indicating a shift in UNI’s market dynamics. Over the past four months, UNI has seen a substantial 210% surge, with its current price at $11.16, reflecting a 47.13% increase over the last seven days.
In addition to the airdrop plans, the Uniswap Foundation announced the forthcoming release of Uniswap v4, scheduled for Q3 2024. This upgrade aims to enhance the functionality and efficiency of the DeFi protocol by incorporating features from the upcoming Ethereum Dencun upgrade, such as Ethereum Improvement Proposals (EIPs) like EIP-4788, EIP-1153, and EIP-4844.
Uniswap v4 will introduce new features, including “hooks,” enabling the integration of custom logic into critical points of the protocol, further enhancing the user experience on the Ethereum blockchain.
As a decentralized exchange (DEX), Uniswap allows for efficient ERC-20 token swaps without intermediaries, utilizing an innovative Automated Market Maker (AMM) framework. Users can swap tokens directly through liquidity provided by Liquidity Providers (LP) without needing an order book, reducing security risks associated with centralized exchanges.
The recent surge in UNI’s price coincides with the distribution of tokens through Optimism’s fourth airdrop, totaling about $41 million. This move targets web3 artists who contributed to the blockchain ecosystem, showcasing Optimism’s commitment to fostering a vibrant and creative community.
The recipients, selected based on eligibility criteria, have until Feb. 13, 2025, to claim their tokens, highlighting Optimism’s dedication to supporting and appreciating creative contributors within the blockchain space.
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