A recent vote on the UNIfication proposal, which began on December 20 and ends on December 25, has cleared the required threshold to take effect this week.
The decision will activate the protocol fee switch for Uniswap
Once activated, the plan calls for the burning of 100 million UNI tokens from the Uniswap Foundation’s treasury. Additionally, a Protocol Fee Discount Auctions feature will be added to raise liquidity provider returns.
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Uniswap’s platform has facilitated over $4 trillion in trading volume since launching in November 2018. As of now, UNI ranks 39th by market capitalization at roughly $3.8 billion.
The proposal has notable supporters, including Jesse Waldren of Variant, Kain Warwick of Infinex and Synthetix, and former Uniswap Labs engineer Ian Lapham. Opposition remains minimal, with only 741 votes against and around 1.5 million abstentions.
The Uniswap Foundation reassured that supporting builders remains a priority. A Growth Budget of 20 million UNI tokens will be set aside to fund future development.
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