Uniswap DAO Votes to Reclaim 12.5M UNI Tokens Worth $42M, Voting Ends May 8

According to DL News, Uniswap DAO is voting on a proposal to reclaim approximately 12.5 million UNI tokens (worth ~$42 million) lent to the Uniswap Foundation and key representatives. The voting will conclude on May 8, with the proposal currently showing 53% in favor and 46% abstaining.

The DAO distributed these governance tokens between 2022 and 2023 to boost participation. According to Erin Koen, Uniswap Labs' governance lead, governance metrics have significantly improved, with average voting participation reaching 75 million UNI. Reclaiming the tokens would address incentive misalignment, ensuring representatives do not hold excessive voting power relative to their economic exposure.