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Uniswap's 'Fee Switch' Proposal Passes with 99% Support, Paving Way for Major UNI Token Reforms

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UNI
$5.6229-7.25%
Uniswap's 'fee switch' proposal passed with 99% support level, meeting the required quorum. The plan will redirect about one-sixth of trading volume-based fees to a fund for UNI buybacks and burns. At current levels, this could lead to $130 million in annual UNI destruction. A one-time burn of 100 million UNI (worth $940 million) and the unification of Uniswap Labs and the Foundation are also part of the plan.
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