Uniswap’s UNI Rises 15% Amid Governance Vote for Revenue Expansion
- UNI increased by approximately 15% in the last 24 hours, surpassing Bitcoin’s gain of 4.7% and Ether’s rise of 8.5%.
- A governance vote is underway to expand Uniswap’s fee switch to eight additional layer-2 networks.
- If approved, the change could add around $27 million in annualized revenue on top of the existing $34 million generated for UNI burns.
- Since the initial implementation of the fee switch, over $5.5 million worth of UNI has been burned.
- In Q1, Uniswap reported approximately $3.12 million in gross profit compared to zero in previous periods.
The ongoing governance proposal aims to streamline fee collection across multiple blockchains and introduce a new v3OpenFeeAdapter for automatic fee capture across liquidity pools, potentially enhancing revenue generation significantly.
With a potential addition of $27 million in annualized revenue, this governance decision could further solidify Uniswap’s financial model as it transitions into a cross-chain revenue-generating protocol linked to trading activity beyond Ethereum.(Source)
