In accordance with The Crypto Basic, Hayden Adams, the founder of Uniswap, has proposed a governance overhaul called 'UNIfication' in collaboration with Uniswap Labs and the Uniswap Foundation. The plan aims to reshape the protocol’s revenue model by activating protocol fees, implementing a UNI token burn mechanism, and creating a more unified ecosystem structure. The proposal includes a one-time burn of 100 million UNI from the treasury and redirects Unichain sequencer fees to the UNI burn mechanism. Uniswap will also introduce Protocol Fee Discount Auctions and integrate aggregator hooks in v4. Additionally, Uniswap Labs will stop collecting fees from its app, wallet, and API, and move Foundation employees to Labs under a new growth fund. The proposal will undergo a 22-day governance process. Adams noted that recent regulatory changes have allowed Labs to take a more active role in governance. Following the announcement, UNI price surged to $10, its highest level since September, and is currently trading at $8.73, reflecting a 31% gain over the past 24 hours.
Uniswap Founder Proposes Governance Overhaul with Token Burn Plan
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