Uniswap Foundation announces on-chain vote that will allow UNI token holders who have staked or delegated their tokens to receive revenue sharing from Uniswap’s trading fees

Uniswap Foundation on X: "🗣️ Next Friday, May 31, the UF will initiate the onchain vote to upgrade the Protocol so that its fee mechanism can reward UNI token holders that have staked and delegated their tokens. If you are a UNI holder who wants to vote on this proposal, you **must** have your UNI" / X

The Uniswap Foundation has announced that an on-chain vote will be starting on May 31. This vote is aimed at upgrading the protocol to establish a new fee mechanism.

Uniswap will share revenue to reward UNI token holders that have staked and delegated their UNI tokens.

This upgrade is very important as it will allow UNI token holders who have staked and delegated their tokens to be rewarded.

It’s important to note that this proposal is still subject to an on-chain vote by the Uniswap community. If you hold UNI and want to participate in this vote, you must delegate your tokens before the date of the vote using this link.

UNI token holders who have staked and delegated their tokens are eligible for rewards. Staking involves locking up your tokens in a smart contract, while delegating means assigning your voting rights to another address.

The collected fees will be distributed pro-rata to UNI token holders who have staked and delegated their votes. This means that the more tokens you have staked and delegated, the larger your share of the rewards.

Uniswap makes between $1 million and $5 million in daily trading fee. If approved, this proposal could pay out between $62 million and $156 million to UNI holders in annual dividends.

UNI token price responds positiviely, UNI 7 days price has increased 41%.