Daily News

Uniswap Foundation Suggests Modifying Governance, Voting Procedures Of Crypto DEX

Decentralized cryptocurrency trading platform Uniswap is putting to vote a number of governance modifications it says will simplify voting in the so-called "decentralized autonomous organization."

According to Devin Walsh, executive director of the Uniswap Foundation, members of the Uniswap community will have the opportunity to vote on Dec. 14 for a restructuring plan that will "improve efficiency and efficacy" for the DAO.

The adjustment would likely eliminate Uniswap governance's demand for off-chain "snapshot votes" that come before on-chain votes.

See Also: Sam Bankman-Fried And Taylor Swift Were Negotiating A $100M Sponsorship Deal Before FTX Collapse

According to Walsh's blog, this would significantly raise the bar for passing preliminary votes and "prevent lower quality proposals" from succeeding.

The on-chain votes that approve or reject proposals will still constitute final governance.

Members of the Uniswap community have been actively working to reduce friction within the protocol and streamline governance.

They decided to establish the Uniswap Foundation in August in an effort to strengthen the group's financial management.  

Next: FTX Co-Founder Sam Bankman-Fried To Testify In Front Of US House Financial Committee

Image: Uniswap.org

What's your reaction?

In Love
Not Sure

Leave a reply

Your email address will not be published. Required fields are marked *

Next Article:

0 %