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Uniswap (UNI) records a 40% increase in seven days, driven by the Uniswap Foundation's plan to distribute fees to staked UNI token holders who are actively participating in the network.
The Uniswap Foundation has submitted a proposal that seeks to improve the governance structure of Uniswap.
The document suggests the distribution of protocol fees to UNI token holders who actively participate and delegate their voting rights.
An instant vote on this proposal is scheduled for March 1, with chain voting beginning March 8.
The potential approval of this proposal could redefine Uniswap's approach to compensating token holders, marking a departure from previous strategies.
Following the announcement, UNI witnessed an impressive 60% surge in a single day, reaching $12, its highest point since January 2022.
Uniswap's weekly chart reveals a two-year sideways trend, confined between the $12.5 and $3.3 marks. However, the recent rise challenges this long-standing resistance, suggesting a change in UNI market dynamics.
In the last four months, this recovery has seen a substantial increase of 210%. The current price of UNI is $11.16, the result of a 47.13% increase seen in the last seven days, according to data from CoinGecko.
Upcoming Uniswap v4 update
Recently, the Uniswap Foundation announced the launch of Uniswap v4 scheduled for Q3 2024. The goal of the upgrade is to strengthen the functionality and efficiency of the DeFi protocol by utilizing the features of the upcoming ethereum Dencun upgrade.
Adding ethereum Improvement Proposals (EIP) such as EIP-4788, EIP-1153, and EIP-4844 to the protocol's operations is designed to improve the user experience on the ethereum blockchain. A new feature of Uniswap v4 is the inclusion of “hands“, allowing custom logic to be integrated into critical points of the protocol.
Uniswap, as a decentralized exchange (DEX), enables efficient exchanges of ERC-20 tokens without a centralized intermediary. Its innovative Automated Market Maker (AMM) framework allows users to trade tokens directly through liquidity provided by liquidity providers (LPs). This approach does not require an order book and avoids the security risks associated with centralized exchanges.
Users with an ethereum wallet like Metamask can do this effortlessly and liquidity providers earn a 0.3% trading fee for their contributions.
UNI, Uniswap's governance token, was announced as a retroactive airdrop in September 2020 to reward users who interacted with the protocol. The token allows its holders to participate in vital governance decisions, such as treasury usage and future upgrades, through a voting system.
The airdrop of optimism
Recently, Optimism, a Layer 2 network, distributed around $41 million in tokens through its fourth airdrop, showing a commendable commitment to recognizing and appreciating creative contributors to the blockchain.
This move targeted web3 artists, extending a generous distribution of over 10 million OP tokens, valued at approximately $40.8 million.
The 22,998 recipients chosen based on the eligibility criteria, which required the creation of nft art on the ethereum (eth) mainnet or the Optimism Superchain between January 10, 2023 and January 10 of this year, are considered full participants in the Optimism Collective ecosystem.
Recipients have until February 13, 2025 to claim their tokens, underscoring the Layer 2 network's commitment to fostering a vibrant and creative community.
in his official statementOptimism expressed, “A great society needs artists,” emphasizing the critical role that artists play in infusing creativity into the blockchain, thereby significantly contributing to the success and dynamism of the Optimism Collective.
