Uniswap DAO supports a $113 million "fiscal delegation" plan, aimed at increasing governance participation

The Uniswap DAO has voted to continue its "Treasury Delegation Program," which was approved in a preliminary governance vote that ended on Tuesday. The program could distribute up to 18 million UNI tokens, worth about $113.4 million at current prices, to 12 selected delegates. The proposal has been preliminarily approved and the details will be finalized and officially implemented after being passed by an on-chain vote. Uniswap's first Treasury Delegation Program, called "Delegate UNI to Active but Underrepresented Representatives," launched in December 2023 with the aim of supporting "active but underrepresented representatives" who vote on behalf of UNI token holders.

If the new delegate funding plan is approved, approximately 12 selected delegates will receive one million UNI tokens each as an incentive for their participation in governance.

An additional one million tokens will be awarded to "top-tier" representatives determined based on "objective criteria", including maintaining at least an 80% voting participation rate over the past three months. Despite passing a “provisional check,” there isn't complete consensus within the Uniswap community regarding this plan; only 60% of voting rights support it while nearly 30% chose to abstain.