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Uniswap token pumps following governance fee switch proposal

The Uniswap Foundation, a non-profit organization dedicated to supporting the growth of decentralized exchange Uniswap, is proposing an upgrade to the Uniswap Protocol Governance so that its fee mechanisms will reward UNI token holders.



Specifically, the Foundation is looking to upgrade the protocol governance to enable the collection of protocol fees, distribute these fees pro-rata to token holders who have staked and delegated their UNI votes and continue to enable governance to be in charge of core parameters around fees.



Following the announcement of this proposal, Uniswap’s native token ( UNI ) has seen its price jump by over 40% from $7.24 to $10.22 in less than an hour, information on CoinGecko shows .



Read more: Uniswap DAO to weigh giving ‘underrepresented’ delegates more voting power



Erin Koen, the governance lead at Uniswap Foundation, wrote in a post on X that if approved, this proposal will help increase the resilience and decentralization of Uniswap Governance. 





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