Uniswap, one of the prominent DeFi projects, has recently presented a governance model to engage its users. Uniswap, which is a decentralized protocol for automated liquidity provision on Ethereum, launched its native tokens dubbed UNI.
As per the latest announcement by Uniswap, sixty percent of the UNI genesis supply is assigned to Uniswap community members. Notably, a quarter of these tokens (fifteen percent of total supply) has by now been disseminated to earlier users. The team behind the decentralized protocol stated:
“Uniswap governance framework is limited to contributing to both protocol development and usage as well as development of the broader Uniswap ecosystem.”
By taking the aforementioned steps, UNI formally cherishes Uniswap as self-sustainable infrastructure while continuing to judiciously guard its durable and self-governing abilities.
Nevertheless, the groundbreaking thing about the protocol’s model is that it will give a percentage of the total UNI supply to all users who have ever used their smart contract, till 1st September. This is even applicable to users who had unsuccessful transactions. These users can claim their four hundred token reward instantly if they were once users, liquidity providers, and SOCKS holders or redeemers.
Overall, one billion UNI tokens have been minted at genesis and will become available over the progression of four years.
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