A busy year for the Uniswap community! On August 24, she said YES to the creation of the Uniswap foundation. Its mission: to promote the growth of this DeFi ecosystem. As part of this mission, the executive director of the foundation submitted a proposal to update the community governance process. The verdict is in: the modification proposals are validated.
RFC Revisions and Updates
Since its creation, the Uniswap Foundation has not rested on its laurels. Besides distributing grants, she is working on an important project. It aims to reduce friction within Uniswap’s governance system.
On Nov. 21, Uniswap Foundation Executive Director Devin Walsh posted a request for comments on a series of changes to the Community Governance Process (RFC). “While the governance process put in place today has been largely successful in meeting objectives, we believe improvements can be made to reduce overhead and improve off-chain signaling ahead of the final governance vote. »he explained.
As detailed in this documentthe Uniswap community governance process will therefore be summarized in three phases:
- The request for comments;
- Temperature check;
- The on-chain governance vote.
The Uniswap community voted unanimously
From November 21 to December 11, that was the deadline for members of the Uniswap community to submit any proposed changes to the RFC. Subsequently, the proposed updates were put to a vote. The vote lasted 7 days, starting on December 12.
According to the regulations in force within the Uniswap community, a quorum of 40 million UNI votes is necessary to validate requests for changes to the community governance process. Challenge met ! According to the results published on Snapshotthe updating proposals were voted unanimously: 61 million UNI votes (against 193 UNI).
We can only admit it: restructuring within Uniswap is going well. For the Uniswap Foundation, the validation of this proposed RFC update is an important step. The next phase: update of the documentation on the governance platforms by the UF.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service ofdaily and weekly so you don’t miss any of the essential Tremplin.io!