jakiro
Author:Hayden Adams, founder of Uniswap;Compiled by: Bitchain Vision
Today, I am very excited to submit my first proposal to Uniswap governance on behalf of Uniswap, together with Devin Walsh (Executive Director and Co-Founder of Uniswap Foundation) and Ken Ng (Head of Research and Co-Founder of Uniswap Foundation).
The proposal would enable protocol fees and align all incentives within the Uniswap ecosystem.
For the past eight years, Uniswap has been a career that I have devoted all my passion and energy to.What started as a small side project has grown into a global financial infrastructure, powering thousands of applications and generating $1.8 trillion in annual transaction volume.
UNI was launched in 2020, but over the past 5 years, Uniswap Labs has been unable to meaningfully participate in Uniswap’s governance and has been greatly restricted in creating value for the Uniswap community.That ends today!
This limitation was largely due to a hostile regulatory environment that cost thousands of hours of time and tens of millions of dollars in legal fees.Fortunately, the regulatory environment has shifted.
This proposal stems from a strong desire to see the Uniswap protocol eventually become a global decentralized tokenized value exchange.
Taken as a whole, the proposal:
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Enable protocol fees and use them to burn UNI tokens;
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Send the Unichain serializer fee to the UNI destruction address;
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Destroy 100 million UNI from the vault. These UNI represent the protocol fees that would have been destroyed if the fee mechanism was turned on when the token was issued;
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Introducing protocol fee discount auctions, a new way to increase Liquidity Provider (LP) earnings and internalize Maximum Extractable Value (MEV);
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Introducing an “aggregator hook” to turn Uniswap v4 into an on-chain aggregator for collecting protocol fees from external liquidity sources;
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Labs is committed to promoting the growth and popularity of the protocol, including signing a contract pledging to only work on projects that are in the interest of Uniswap governance. As part of this, Labs will stop charging fees for its interface, wallet and API to greatly promote the distribution and popularity of the Uniswap protocol;
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Move foundation activities to Labs and work together to accelerate protocol development, funded by treasury growth budget allocations;
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Transfer the Unisocks liquidity held by the governing party to the v4 version of Unichain and destroy the LP position.
I think the Uniswap protocol can become the main platform for token trading.This proposal lays the foundation for its development over the next decade.
In the next few years, Uniswap will continue to introduce new features and provide strong assistance to the community of developers, LPs, and traders who develop on its foundation.
I’m so grateful for the community that makes this possible and excited for the future.
Translator’s Note: On November 11, Devin Walsh, executive director and co-founder of the Uniswap Foundation, announced that he had jointly proposed a joint governance proposal with Uniswap founder Hayden Adams, planning to launch protocol fees and unify the incentive mechanism throughout the Uniswap ecosystem.After the proposal was announced, UNI briefly exceeded $9, once touching $9.27, with a 24-hour increase of more than 37%.
