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Should you buy UNI as Uniswap DAO votes in favor of altering the governance structure?

By:
on Dec 23, 2022
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  • In the last 24 hours, the trading volume of Uniswap increased by 26%.
  • Uniswap’s DAO voted in favor of altering the governance structure to make the governance process frictionless.
  • By the end of December, 2022, UNI can increase in value by 18%.

The Uniswap (UNI/USD) Decentralized Autonomous Organization (DAO) has unanimously voted in favor of a proposal to make the governance process frictionless.

Uniswap is essentially a decentralized protocol that users leverage as a means of trading tokens built on top of the Ethereum (ETH/USD) blockchain.

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It’s powered by the Ethereum network and lets anyone create a market for ERC-20-based tokens.

Uniswap DAO approval for changes as a catalyst for growth

In the latest Uniswap news, the Uniswap DAO, which is the governance body behind one of the largest decentralized cryptocurrency exchanges (DEXs) such as Uniswap, has voted in favor of a proposal that will amend its governance process based on an announcement by the Uniswap Foundation.

The vote originally began on December 14 and ended on December 21, which saw 100% of the community members voting in favor of the proposal.

Over 61 million UNI tokens were used to vote to alter the governance process, where 193 were against and said No to the proposal.

The proposal was aimed at making the governance process frictionless, and the first change will result in the removal of the first off-chain Snapshot vote and will replace it with a “Request for Comment ” post.

Should you buy Uniswap (UNI)?

On December 23, 2022, Uniswap (UNI) had a value of $5.32.

UNI/USD Chart by Tradingview

The all-time high of the Uniswap (UNI) cryptocurrency was on May 3, 2021, at a value of $44.92. Here we can see that it was $39.6 higher in value or 744% higher.

When we go over the 7-day performance of the cryptocurrency, Uniswap (UNI) had its low point at $5.07, while its high point was at $5.37. Here we can see a $0.3 difference, or by 6%.

In terms of the 24-hour performance of Uniswap (UNI), its low point was at $5.14, while its high point was at $5.39. Here we can see a $0.25 difference, or by 5%.

With this in mind, UNI can reach $6.5 by the end of December. Investors will want to buy UNI as it can climb further with the new DAO proposal approval.