Uniswap vote could soon tie UNI token value to its multibillion-dollar trading engine

Uniswap governance has initiated voting on the "UNIfication" proposal, which aims to activate protocol fees on selected v2 and v3 pools for the first time, routing a portion of these swap fees into a new on-chain mechanism to permanently burn UNI tokens. This action would directly link protocol usage to token supply reduction. If approved, the proposal also includes an immediate retroactive burn of 100 million UNI from the treasury, reducing the circulating supply from 629 million to 529 million tokens. Furthermore, the plan shifts operational responsibility to Uniswap Labs, which commits to zero fees on its interface while receiving a 20 million UNI annual budget for protocol growth. The proposal also incorporates revenue from Unichain sequencing into the burn system and outlines future upgrades, marking a significant economic shift that ties UNI's value directly to protocol revenue.

(Source：CoinDesk)