The Uniswap Foundation has announced that on-chain voting for a proposal to establish a new fee mechanism will take place by May 31. This announcement has led to a 20% increase in the value of UNI, the network's native token. The foundation is moving towards implementing autonomous fee collection and distribution in Uniswap V3 pools. The proposed transfer of ownership of UniswapV3Factory to V3FactoryOwner aims to enable fee collection in the future. Despite potential legal challenges from the SEC, the proposal to reward UNI token holders for governance participation has received strong support. The new fee distribution plan will incentivize active participation by distributing protocol fees among staked and delegated UNI token holders. Uniswap has been generating significant fees, with approximately $3.2 million earned in the past 24 hours. The foundation also disclosed holding $41.41 million in fiat and stablecoins, along with 730,000 UNI tokens, at the end of the first quarter. Read more AI-generated news on: https://app.chaingpt.org/news