On December 28, a large-scale burn of 100 million UNI
tokens, valued at roughly $596 million, was executed via an on-chain transaction following approval of the UNIfication governance proposal.
On-chain records indicate the burn occurred at approximately 4:30 AM UTC, which marks the initial deployment of the UNIfication plan designed to activate protocol fees and initiate regular reductions in UNI supply.
Token holders showed near-unanimous support, with the proposal passing with 99.9% approval. Over 125 million UNI were voted in favor, compared to merely 742 against.
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Uniswap Labs shared a confirmation of the burn on X. The company stated:
UNIfication has officially been executed on-chain.
Additionally, interface fees charged by the protocol were set to zero, while protocol fees were activated on Uniswap v2
$22.13M
and selected v3
$349.03M
pools on Ethereum
mainnet.
Revenue from Unichain is currently being directed toward UNI burns after covering Optimism
$2.26M
and Layer‑1 data expenses.
The supply of UNI in circulation currently stands at roughly 730 million, down from the original 1 billion total.
To support ecosystem growth, the Uniswap Foundation has allocated a 20 million UNI growth budget intended for developer funding and platform expansion.
World Liberty Financial, a crypto organization associated with the Trump family, recently suggested allocating 5% of its WLFI token treasury, valued at approximately $120 million, towards the growth of its stablecoin, USD1. What is the goal of the proposal? Read the full story.
