Uniswap Completes Significant Token Burn of 100 Million UNI
- Uniswap has burned 100 million UNI tokens, valued at approximately $596 million, from its treasury.
- The burn was completed on December 28 at around 4:30 am UTC, marking a major governance decision implementation.
- The fee burning proposal, known as “UNIfication,” received overwhelming support with over 99.9% approval from token holders.
- Following the burn, UNI’s circulating supply is now approximately 730 million out of a total supply of one billion.
- Uniswap Labs announced that interface fees will be set to zero while activating fees on Uniswap v2 and selected v3 pools.
This significant token burn is part of Uniswap’s strategy to enhance the value of its ecosystem and maintain developer funding through continued grant programs. The move reflects strong community consensus and aims to boost the protocol’s long-term sustainability.
With the recent burn, Uniswap has effectively reduced its total token supply by a substantial amount, reinforcing its commitment to community-driven governance and development initiatives.(Source)
