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

Odaily News The Uniswap community voted to approve a $165.5 million grant to the Uniswap Foundation to support protocol development and governance, paving the way for the long-promised Fee Switch.
According to the proposal, the grant will be gradually distributed over three years, with $125 million allocated in the first phase and $20.25 million in the subsequent two phases. The funds will be mainly used to finance ecosystem construction, research and development, and promote the decentralized governance process of Uniswap.
This resolution also lays the foundation for the future activation of the fee conversion function. If this function is activated, Uniswap may distribute part of the transaction fees to UNI token holders, improving the profit distribution mechanism within its protocol. Currently, Uniswap's daily trading volume is stable at around US$1 billion, and the launch of the fee conversion function may have a profound impact on the DeFi ecosystem. (The Block)