‘Token Holders Begin Voting to Distribute Fees for Altcoin Ignoring SEC Warning’

Uniswap Foundation Moves Forward with Plans Despite SEC Warning

The Uniswap Foundation is pressing forward with its initiatives, despite receiving a caution from the US Securities and Exchange Commission (SEC). On May 31, the foundation declared its intentions to proceed with on-chain voting and the establishment of infrastructure for autonomous fee collection and distribution.

Scheduled to be activated next Friday, the on-chain voting is a crucial element of a proposal that necessitates additional voting to enable fees on Uniswap V3 pools. UNI token holders keen on participating in this voting process are encouraged to delegate their cryptocurrencies before the designated deadline.

Authored by Uniswap Foundation leader, Erin Koen, the proposal suggests an enhancement that would provide rewards to UNI token holders who stake and delegate their tokens. These individuals will have the opportunity to earn a portion of the fee income generated by the protocol, which has amassed an impressive .3 billion in fees since its inception.

Furthermore, the foundation is advocating for a revamped mechanism for future voting. This new approach aims to make fee adjustments more flexible, ease the burden on Uniswap Management, and uphold the protocol’s impartiality.

Please note: This article is not intended as investment advice.