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Uniswap: The proposal for the protocol fee switch has reached the voting threshold and will take effect this week.
Odaily News The Uniswap protocol fee switch proposal UNIfication has reached the approval threshold of 40 million votes and is expected to take effect later this week. As of Monday morning, there have been nearly 62 million votes in favor, with voting set to end on December 25. Uniswap Labs CEO Hayden Adams stated that after the vote passes, it will enter a two-day time lock phase, during which the fee switch for Uniswap v2 and v3 on the Unichain Mainnet will be activated, triggering UNI token burning. The proposal includes the destruction of 100 million UNI tokens from the Uniswap Foundation treasury and the implementation of a protocol fee discount auction system to enhance Liquidity Provider returns. As a result, UNI has risen about 25% since the voting began, with the current price at $6.18.