Uniswap fee switch to go live as community vote set to pass
The Uniswap protocol's UNIfication fee switch proposal is set to pass, triggering UNI token burning and new fee mechanisms.Summary
The highly anticipated Uniswap protocol fee switch, known as “UNIfication,” is expected to pass and go live this week after securing the necessary 40 million votes. Voting closes on Thursday, Christmas Day, and a successful vote will initiate a two-day timelock, after which the fee switches for Uniswap v2 and v3 will activate on the Unichain mainnet, resulting in the burning of 100 million UNI tokens from the Uniswap Foundation’s treasury. The changes also include implementing a Protocol Fee Discount Auctions system to boost liquidity provider returns, which is anticipated to improve UNI token dynamics and long-term appeal. The UNI token has already seen a significant price increase since voting began. Major figures in the crypto space, including Jesse Waldren and Kain Warwick, have backed the proposal, which has seen minimal opposition. The Uniswap Foundation has assured the community that supporting protocol development through grants, funded by a planned Growth Budget of 20 million UNI tokens, will remain a priority.
(Source：Cointelegraph)