Uniswap (UNI) has surged in price following a proposal by the Uniswap Foundation to overhaul the protocol's governance system. The 16th-largest cryptocurrency by market cap is up by just over 50% in 24 hours, according to CoinGecko. Its price now stands at $11.20.
That jump makes it the best performing token today among the top 100 cryptocurrencies. The reason is due to a proposed "large-scale upgrade to Uniswap protocol governance to incentivize active, engaged, and thoughtful delegation," developers said.
In short, users who stake their tokens—that is, pledge them to the network—will receive rewards.
The Uniswap Foundation added that it believes that "UNI token holders will be incentivized to choose delegates whose votes and engagement with the protocol will lead to the Protocol's growth and success."
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🧵 Biggest week in Uniswap Protocol Governance... ever?
I just proposed a large-scale upgrade to the system. Specifically, I believe we should upgrade the protocol so that its fee mechanism rewards UNI token holders that have staked and delegated their tokens. 🦄
Uniswap is a decentralized exchange (DEX) built on Ethereum. It allows anyone to swap Ethereum-based tokens and is different from centralized exchanges like Coinbase because anyone can use Uniswap without a sign-up process.
It is by far the biggest DEX by 24-hour volume, with nearly $877 million in tokens traded in the past day, according to data from CoinGecko.
The inventor of leading decentralized exchange Uniswap, Hayden Adams, announced today that the protocol will be implementing a 0.15% swap fee on their web app and wallet interfaces for the very first time.
Only a certain set of tokens will be affected by the new fee, according to a Uniswap Labs’ blog post, including ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC, and XSGD.
However, the fee only applies when traded through Uniswap Labs’ interfaces on mainnet and supported layer 2s—an...
Those who hold Uniswap's governance token, UNI, can vote in how the protocol is run. A vote on the proposal will take place on March 1.
SatLayer, a Bitcoin restaking platform, announced Wednesday it’s extending Bitcoin’s use in decentralized finance to Sui, the speedy layer-1 blockchain launched last year.
With Sui’s focus on fast transaction speeds, SatLayer’s integration will enable developers to leverage Bitcoin’s $2.1 trillion footprint in building DeFi applications, which aim to exclude third parties from transactions in areas like trading and lending, SatLayer said in a statement.
Sui’s network is already home to a budding...
It's been a big week of DeFi news for the Donald Trump-backed crypto venture, World Liberty Financial (WLFI). Earlier this week, the project expanded its portfolio with $5 million worth of investment in three major assets: Ethereum (ETH), Chainlink (LINK), and Aave (AAVE).
The acquisitions include 2,631 ETH at $3,801 each, 41,335 LINK at $24.2, and 3,357 AAVE at $297.8, according to on-chain analytics platform Lookonchain.
The purchases mark WLFI’s first foray into LINK and AAVE, diversifying it...
Crypto yield marketplace Superform announced Wednesday the launch of SuperUSDC, a product billed as a “set and forget” opportunity for earning high yield on Circle’s stablecoin.
Since its launch in early access this year, the platform has functioned as a decentralized marketplace for yield protocols. Projects can list vaults on Superform, which are linked to yield opportunities on Ethereum as well as dedicated scaling solutions like Arbitrum or Base.
SuperUSDC offers DeFi users “automated, non...
