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SirWin
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SirWin

Uniswap DAO community approves an updated governance process 

uniswap-dao-community-approves-an-updated-method-of-governance-process
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Uniswap DAO community approves an updated governance process 

Uniswap DAO voting on governance has finished after a week. The community chose a new governance model.

The Uniswap community voting on a new governance model lasted for a week. 61,000,000 UNI were used to approve it unanimously.

DAO members voted for the removal of the snapshot off-chain vote requirement. The ultimate aim is to use the same on-chain votes that accept or disapprove of a proposal for governance.

Moreover, the community decided to raise the quorum (the percentage of UNI that must be present to cast a vote) for future off-chain polls from 5 million UNI to 10 million UNI. In this case, the community sentiment can be measured more precisely before the governance vote. Final governance votes will not be changed.

Uniswap DAO was launched shortly after the creation of Uniswap. According to the DAO stats website DeepDAO, it has the largest treasury of any decentralized autonomous organization in the crypto realm, with $2.2 billion in reserves.

Besides Uniswap, many initiatives aim to streamline DAO administration. Earlier this month, Waves Blockchain’s founder said he was exploring a new DAO governance structure to boost trust and openness inside the protocol.