TechFlow, December 22 — According to Cointelegraph, Uniswap's fee switch proposal "UNIfication" has surpassed the approval threshold of 40 million votes and will take effect this week.
As of Monday, the proposal has received nearly 69 million votes in favor, with voting set to conclude on Thursday (Christmas Day). After passage, a two-day timelock period will follow, after which the fee switches for Uniswap v2 and v3 will be activated on the Unichain mainnet, triggering UNI token burns.
The proposal will burn 100 million UNI tokens from the Uniswap Foundation treasury and implement a protocol fee discount auction system to enhance returns for liquidity providers. These changes are expected to significantly improve the supply-demand dynamics of the UNI token, boosting its long-term holding value.
Since the start of voting, the price of UNI has risen over 25%, currently trading at $6.19.
