Since the inception of the UNI token, users who hold these token can make their voice count by participating in the first-ever community UniSwap proposal.
This first proposal sets out to “reduce UNI governance proposal & Quorum Thresholds”.
The Voice of the People
In a discussion forum, a user who goes by the username “aliatiia”, points out that the current system of requiring 10M UNI to submit a governance proposal is insanely high and needs to be reduced to 10,000.
Also, within the discussion forum, another user who goes by “tarun” suggested that the quorum size needs to be reduced as well.
Through the discussion, a proposal was created by Dharma, proposing that the threshold should be set to 3 million instead of the current 10 million and set the quorum to 30 million instead of the current 40 million.
Currently, there is overwhelming support for this proposal to be approved and the decision will be finalized on October 19.
History in the Making
With UniSwap being the most popular DEX and their recent distribution of the UNI token through the airdrops. This marks the first initiative where the community is taking more of an active role in seeing what is best for the ecosystem.