Uniswap (UNI) Stirs the Market with Revenue Sharing Proposal
Uniswap, a leading decentralized exchange, has once again captured the attention of the crypto community with a proposal to share revenue with users staking UNI tokens. The preliminary vote on this proposal concluded this morning, with overwhelming support from the community.
As Coin68 previously reported, Uniswap initiated the revenue-sharing proposal on March 2. The idea of rewarding users who have delegated or staked UNI tokens quickly garnered widespread enthusiasm. By 7:00 AM on March 7 (Vietnam time), 100% of the votes, representing 55 million UNI tokens, were in favor of the proposal.
The preliminary vote, known as a temperature check, is just the first step. The official vote to activate the proposal is scheduled to begin on March 8.
Following this development, the price of UNI surged over 20% in the past 24 hours, reaching $17 for the first time since January 2022. This increase significantly outpaced the 3% recovery in Bitcoin, which had plummeted from its peak of $69,000 the previous day.
Uniswap's Proposal and Market Impact
According to estimates, the new initiative could generate between $62 million and $156 million in dividends for UNI holders annually. Additionally, Uniswap's program is expected to set a positive precedent and inspire similar revenue-sharing initiatives across other DeFi protocols. For instance, Frax Finance has recently unveiled a comparable revenue-sharing plan.
However, the program's attractiveness may also draw regulatory scrutiny. Some assets may be classified as securities if they meet the criteria of the Howey Test, as noted by a representative from 21Shares.
