The DAO (Decentralized Autonomous Organization) of decentralized exchange protocol Uniswap recently voted on a proposal to continue the Delegate Reward Initiative and launch Cycle 3. According to the approved proposal on the blockchain voting platform Tally, the Uniswap DAO will allocate an additional $540,000 worth of protocol native token UNI to fund Cycle 3 of the program. The "Delegate Rewards Program" is designed to improve the quality and participation of Uniswap's governance through economic incentives. The program provides compensation to high-performing "delegates" - individuals or entities authorized to vote on behalf of other token holders - with each delegate receiving up to $6,000 worth of UNI tokens per month. The governance vote took place from February 26 to March 4, 2025, and was approved by 47.51 million votes in favor (99.45%). The third-cycle proposal is currently "queued" for implementation, and the specific implementation date will be determined at a later date, provided that it is not cancelled during the time lock-in period.