Uniswap Activates Historic Fee Burn

Uniswap has crossed a line it has debated for nearly four years. Following the approval of the UNIfication proposal, the Uniswap treasury has officially burned 100 million UNI tokens, worth approximately $591 million, sending them to an irrecoverable burn address.

The transfer was confirmed by Uniswap in a public update.

UNIfication has officially been executed onchain

✓ Labs interface fees are set to zero

✓ 100M UNI has been burned from the treasury

✓ Fees are on for v2 and a set of v3 pools on mainnet

✓ Unichain fees flow to UNI burn (after OP & L1 data costs)

Let the burn begin pic.twitter.com/fcr3WY3gPc

— Uniswap Labs