NFTs

Uniswap Governance Shoots Down Fee Switch Proposal, Again

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Nearly 60% of votes were cast against a proposal that would allow the DAO to change Uniswap’s fee mechanism.

The Uniswap community has rejected a governance proposal seeking to make changes to its fee mechanism that would allow the distribution of revenue to tokenholders.

The voting period for the proposal closed on March 9, with 59.9% of mobilized UNI cast in opposition. The proposal sought to allow the DAO to make future changes to Uniswap’s fee mechanism, paving the way for activation of a long-awaited Uniswap “fee-switch” which could distribute protocol revenue to UNI holders.

The proposal was shot down two days after a separate proposal to enable protocol revenue collection was passed with borderline unanimous support.

Community members have long sought the activation of a fee-switch since Uniswap airdropped its UNI token to early adopters in 2020.