Uniswap Burns 100 Million UNI Tokens as Fee-Burning Upgrade Goes Live
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Uniswap activated its fee-burning upgrade UNIfication, permanently removing 100M UNI tokens. The proposal received over 125M votes with minimal opposition. Following the burn, UNI token volume surged as traders responded to the reduced supply.
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- Uniswap permanently removed 100M UNI after activating its on-chain fee-burning UNIfication upgrade.
- The UNIfication proposal passed with overwhelming support, securing over 125M votes and minimal opposition.
- UNI rebounded after the burn, with volume surging as traders reacted to the supply reduction.
Uniswap has executed one of the largest token supply reductions in decentralized finance after activating its long-awaited fee-burning upgrade, known as “UNIfication,” on Ethereum mainnet. The rollout resulted in the permanent removal of 100 million UNI tokens from the protocol’s treasury, an event that coincided with renewed volatility in UNI’s market price and trading activity.
On December 28 at approximately 4:30 a.m. UTC, Uniswap carried out the burn transaction, according to records from the Ethereum blockchain explorer Etherscan. The destroyed tokens were…
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