Uniswap (UNI/USD) is essentially a decentralized exchange platform (DEX) purpose-built to enable peer-to-peer (P2P) market making.
The native cryptocurrency utilized to power this DEX is the UNI cryptocurrency that allows users to trade cryptocurrencies without reliance on any third party.
The Uniswap Foundation proposal approval as a catalyst for growth
The proposal to create the Uniswap Foundation received a high level of support from a vast majority of community members and has paved the way for it to become real.
The proposal was put for voting from the span of August 17 to August 23 and required about 40 million votes for it to be approved.
However, the proposal ended up receiving 86,298,595 votes that are for its creation, out of the required 40,000,000 votes, where only 770 were against.
This Uniswap Foundation would essentially work towards the improvement of governance within the Uniswap ecosystem through the process of removing friction as well as reinvigorating grants to ambitious projects that will have an impactful result.
Should you buy Uniswap (UNI)?
On August 26, 2022, Uniswap (UNI) had a value of $6.836.
To get a higher level of perspective as to what this value point represents for the future of the UNI cryptocurrency, we will be going over its all-time high point of value and performance in July.
When we take a look at its all-time high, Uniswap reached a value of $44.92 on May 3, 2021.
When we go over the performance throughout the previous month, we can see that its lowest point of value was on July 2 at $4.7428.
However, its highest point of value was on July 28 at a value of $9.6101.
Here, we can see an increase in value of $4.8673, or 102%.
With this in mind, investors might want to buy UNI at $6.836, as it can increase in value to $10 by the end of August 2022.
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