TechFlow news, November 11 — According to a blog post from the Uniswap Foundation, the Uniswap Foundation and founder Hayden Adams have jointly proposed a governance initiative named "UNIfication," aiming to activate protocol fees, reduce the total supply of UNI tokens, and realign ecosystem incentives.
Key changes in the proposal include: activating the protocol fee mechanism, implementing UNI token burning, and establishing a Uniswap Growth Budget to fund protocol and ecosystem development. Organizationally, most teams and projects under the Uniswap Foundation will transition to Uniswap Labs, while the Foundation will retain a lean team focused on grant management and will cease operations after deploying the remaining grant budget of approximately $100 million.
Following this announcement, UNI briefly surpassed $10 this morning, rising over 35% in 24 hours.
