Uniswap Governance Improvements Voting Power

 **Heading 1: Uniswap's Proposal to Delegate 10 Million UNI Tokens**

In a move towards promoting diversity and representation, a proposal within Uniswap's Decentralized Autonomous Organization (DAO) aims to delegate 10 million UNI tokens to underrepresented delegates. This initiative seeks to empower smaller stakeholders and enhance governance participation.

**Heading 2: Token Distribution Plan for Delegates**

Under the proposed plan, the top four candidates stand to receive up to 2.5 million UNI each, while the remaining tokens will be distributed equally among other qualifying candidates. This distribution model aims to ensure a fair and inclusive allocation of voting power within the Uniswap community.

**Heading 3: 'Temperature Check' Phase and On-Chain Vote**

Currently undergoing a 'temperature check,' the proposal faces the next stage of an on-chain vote before implementation. Once approved, delegates would gain access to UNI tokens from the DAO's treasury. Importantly, these tokens are non-tradeable and are intended solely for voting purposes, further strengthening the influence of delegates in governance decisions.

**Heading 4: 1inch DAO Vote and Financial Strategy**

In a related development, a vote from the 1inch DAO proposes the sale of approximately 2.5 million ARB tokens to USDC on Arbitrum. The resulting USDC funds would be directed to the DAO's treasury, contributing to the growth of the 1inch Network and enhancing the overall financial position of the DAO.

**Heading 5: Uniswap's Governance Landscape and Underrepresented Delegates**

Uniswap's DAO structure allows token holders to vote directly or delegate their voting power to other entities. The current proposal addresses the issue of underrepresentation by identifying candidates with at least 2.5 million delegated votes as "underrepresented." The governance service provider, StableLab, behind this proposal would also receive governance tokens if it gains approval.

**Heading 6: Criticisms of Uniswap's Governance System**

Uniswap's governance has faced criticism in the past for being heavily influenced by a small number of large token holders, including entities like a16z, Dharma, and Gauntlet. The proposal highlights the disparity in vote participation rates among top delegates and aims to address the centralization of voting power within the Uniswap ecosystem.

**Heading 7: UNI Price Movement and Market Reaction**

In a notable development, the price of UNI has experienced a significant uptick over the past 24 hours. While it remains uncertain if this surge is directly correlated with the proposal, UNI has surged from $5.25 to reach an intraday and 14-week high of $6.26. This represents an 18% gain for the day, outperforming other assets in the crypto market.

**Heading 8: Historical Performance and Current Status of UNI Token**

Despite recent gains, UNI continues to recover from previous lows. Over the past month, it has recorded a 42% increase, aligning with the broader crypto market's recovery. However, UNI is still down 86% from its all-time high of $44.92 in May 2021, highlighting the token's journey and challenges in a volatile market.