As reported by Crypto.News, Uniswap has submitted a governance proposal to activate protocol fees, burn UNI tokens, and restructure its governance. The plan includes a one-time 100 million UNI burn, reducing the circulating supply by 16%, and merging the Uniswap Foundation and Labs into a unified entity focused on protocol growth. The proposal, referred to as 'UNIfication,' aims to align incentives and reduce UNI's supply by directing trading fees toward perpetual token burns. It also introduces a system where traders can bid UNI for discounted fees, with the tokens used in auctions subsequently burned. The proposal follows recent regulatory changes in the U.S. and was accompanied by a sharp rise in UNI's price, increasing over 40% within hours of the announcement.
Uniswap Proposes 100M UNI Burn and Protocol Fee Activation to Reduce Supply
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