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Uniswap Proposes to Reclaim $42 Million in Delegated UNI Tokens, Voting Ends May 8
Uniswap DAO is currently voting on a proposal to reclaim approximately 12.5 million UNI tokens (about $42 million) that were previously lent to representatives and the foundation. The voting will conclude on May 8, with around 53% in support, 46% abstaining, and very few against. Uniswap revealed that these governance tokens were lent out between 2022 and 2023 to enhance governance participation. However, governance activity has significantly increased, and the related mechanisms have achieved their intended effects. This reclamation aims to address incentive misalignment, as some representatives hold substantial voting power without having their own economic exposure.