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Uniswap Community Approves 'UNIfication' Proposal to Burn 100M UNI Tokens

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UNI
$5.92811.71%
Uniswap community members approved the 'UNIfication' proposal to burn 100 million UNI tokens from the treasury. The vote passed with over 69 million votes, well above the 40 million threshold. A two-day timelock precedes the activation of protocol fees and automated burns. The move aims to reduce UNI supply using protocol earnings. Protocol Fee Discount Auctions and a 20 million UNI annual budget were also included. UNI price rose 25% during voting but has dipped with broader market weakness. Altcoins to watch include UNI amid shifting sentiment and a fear and greed index showing mixed signals.
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