Uniswap community approves $165.5 million fund allocation to pave the way for cost conversion

Odaily Planet Daily News: The Uniswap community has voted to approve a grant of $165.5 million to the Uniswap Foundation to support protocol development and governance, paving the way for long-term commitment fee switches. According to the proposal, the funding will be gradually disbursed over three years, with the first phase allocating $125 million and the subsequent two phases totaling $20.25 million. This fund is mainly used to support ecosystem construction, research and development, as well as to promote Uniswap's decentralized governance process. This resolution also lays the foundation for the future implementation of cost conversion function. If this feature is activated, Uniswap may allocate some transaction fees to UNI token holders, improving the profit distribution mechanism within its protocol. Currently, Uniswap's daily trading volume remains stable at around $1 billion, and the launch of fee conversion functionality may have a profound impact on the DeFi ecosystem. （The Block）