The community of @Uniswap Protocol has initiated the final vote to activate the protocol fee switch across eight blockchains, including Base, @Arbitrum Foundation , OP Mainnet, World Chain, X Layer, @celo , Soneium, and Zora.
The proposal aims to divert at least one-sixth of trading fees from liquidity providers on these networks and redistribute the value to UNI holders through the burning of an equivalent amount of UNI tokens. Fee sharing has already been implemented on Ethereum mainnet v2 and partially on v3 pools since late last year, generating approximately $3.3 million in revenue. This new proposal is also expected to extend coverage to the remaining v3 pools on Ethereum.
The two final governance votes related to this proposal are scheduled to conclude on March 4.