Derived from Chainthink, Uniswap announced on December 28 that it has set all interface fees for its application and API to zero. Previously reported, the 'Fee Switch Proposal' was ultimately approved in a governance vote. After a two-day time lock period, the fee switch for Uniswap v2 and v3 will activate on the Unichain mainnet, triggering the burning of UNI tokens. The proposal will destroy 100 million UNI tokens from the Uniswap Foundation treasury and implement a protocol fee discount auction system to increase liquidity provider rewards.
Uniswap Sets All Interface Fees to Zero
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Summary
Uniswap announced on December 28 a major protocol update, setting all interface fees for its app and API to zero. The move follows the approval of the 'Fee Switch Proposal' in a governance vote. After a two-day time lock, the fee switch will activate on the Unichain mainnet, triggering the burning of UNI tokens. The update will destroy 100 million UNI from the Uniswap Foundation treasury and introduce a protocol fee discount auction system to boost liquidity provider rewards. This on-chain news marks a key change in the platform’s economic model.
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