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Uniswap DAO votes to recall previously lent $42 million worth of UNI tokens
BlockBeats News. On May 6, according to DLnews, Uniswap DAO is currently voting on a proposal to recall a total of 12.5 million UNI tokens (worth approximately $42 million) previously lent to the Uniswap Foundation and multiple major representatives. These tokens were lent out between 2022 and 2023 to increase governance participation.
The proposer, Erin Koen, head of governance at Uniswap Labs, said that the governance environment at Uniswap has significantly improved. UNI holders are actively participating in delegated voting, with an average turnout of about 75 million votes per proposal—exceeding the quorum by approximately 88%. As a result, the borrowed tokens have achieved their original purpose.
The vote comes as Uniswap Labs and the Foundation respond to external criticism that their governance system is overly centralized. Recalling the tokens is also intended to address potential incentive misalignment between representatives’ voting power and their economic risk exposure. The voting will end on May 8, with 53% of voting rights in favor, 46% abstaining, and opposition votes being negligible.