Uniswap's UNI Gains 20% as Token Reward Proposal Inches Closer to Approval
Summary
Uniswap's governance token UNI surged to a 26-month high amid a proposal to reward token holders from protocol revenues. A "temperature check" showed strong community support, with an on-chain vote scheduled for March 8. UNI's 20% rise outperformed Bitcoin's recovery and the CoinDesk 20 Index's decline. The proposal could distribute $62-156 million in annual dividends to UNI owners. This initiative may inspire other DeFi protocols, but could also attract regulatory scrutiny.
