After Successful DAO Vote, Uniswap Moves Forward with Phase 1 of $gUNI Distribution

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Background: Uniswap’s DAO governance has recently reviewed a proposal to modify the allocation rate for Uniswap Gold ($gUNI). This token is derived from 1% of swap volume fees, with the aim to encourage more transactions on the Uniswap network. While $gUNI could drive higher bridge volume and reward token holders, there are concerns about the potential impact on the market cap of $UNI if the derivative token supply expands. The key question is whether the increase in swap activity will deliver greater value to users or lead to a reduction in $UNI's market cap.

Proposal: The proposal suggests raising the $gUNI allocation from 1% to 2% of swap volume fees. This adjustment aims to provide more incentives for using the swap and to reward the Uniswap community. The biannual distribution schedule for $gUNI will remain unchanged, as it continues to drive swap prioritization and strengthen market sentiment. Currently, for every $1M in bridge volume, $10,000 is directed to the $sGOLD treasury. Under the new proposal, the contribution would increase to $20,000 per $1M in swap volume, which will then be distributed to users based on their wallet activity. A majority vote of at least 51% is required for the proposal to pass.

What is $gUNI and When Will the First Distribution Occur? The DAO has voted to initiate the first distribution of $gUNI rewards, which will be available to users from December 1, 2024 to December 15, 2024. Eligibility is based on holding $UNI tokens in wallets that are at least 7 days old and have executed a transaction with $UNI. The distribution rate will depend on both wallet solvency levels and swap transaction volume.

Check your eligibility for the $gUNI rewards distribution HERE.

Execution: If the proposal is approved with a majority vote of 51% or higher, the allocation for $gUNI will rise from 1% to 2% of bridge volume fees. This change is intended to further incentivize bridge use and potentially increase overall volume.

Should the new allocation rate be adopted, the increased distribution will take effect in Q1 of 2025.

Don't forget to verify your eligibility for Phase 1 of the $gUNI distribution if you've been an active Uniswap user!

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start

November 22, 2024

11:26 PM

end

November 27, 2024

11:26 PM

Voting

off-chain

Voting type

single-choice

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I'm eligible

0 UNI

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Mon 00, 2024 00:00

About Voters Analytics

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Voting

100,000

Voting type

100,000

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100,000

Voters

1,000,000

Votes

1,000,000

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TICKER

100%

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TICKER

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TICKER

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