Uniswap DAO supports a $113 million "fiscal delegation" program designed to increase governance participation."
Internet reports that Uniswap DAO has voted to continue its "fiscal delegation plan" and was approved in a preliminary governance vote that ended Tuesday. The program could allocate up to 18 million UNI tokens to selected 12 representatives, worth approximately US$113.4 million at current prices. The proposal has been initially approved, subsequent details will be finalized, and will formally take effect after being voted on-chain. Uniswap's first financial delegation program, called "Delegate UNI to Active but Under-Representative Representatives," was launched in December 2023 and aims to support "Active but Under-Representative Representatives" who vote on behalf of UNI token holders. If the new delegate funding program is approved, approximately 12 selected delegates will receive 1 million UNI tokens to incentivize them to participate in governance. An additional 1 million coins will be awarded to "top" representatives, who will be determined based on "objective criteria", including maintaining a voting participation rate of at least 80% over the past three months. Despite voting to pass the "temporary check", the Uniswap community was not entirely unanimous on the plan. Only 60% of voting rights supported the plan, and nearly 30% of voting rights chose to abstain.
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