Uniswap has approved the UNIFication upgrade and will enable protocol fee collection this week.
Key points of UNIFication:
- Initial UNI burning: approximately 100 million UNI were burned, reducing the supply from 629 million to 529 million.
- Protocol fees were introduced on Uniswap v2 and v3, giving UNI value directly tied to trading activity.
- Increased profitability for liquidity providers and a new auction-based fee reduction mechanism to encourage more efficient liquidity.
UNIFication is a major turning point that helps Uniswap move towards a model with a clear cash flow for UNI, reducing supply while increasing benefits for users and LPs.
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