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Uniswap's Hayden Adams Proposes Activating Protocol Fee Switch
The 'UNIfication' proposal would combine Uniswap Labs and the Foundation while flipping on the long-debated fee switch.
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Uniswap’s leadership unveiled a major governance proposal this week that would at last activate the fee switch, merge its core organizations and kick off a substantial UNI token burn, moves that could mark a new era for the DeFi giant.
What’s the Scoop?
- Fee switch on: The “UNIfication” plan, co-authored by founder Hayden Adams, Uniswap Foundation head Devin Walsh, and researcher Kenneth Ng, proposes activating the long-awaited fee switch to direct a portion of protocol fees to UNI token holders.
- Big burn ahead: The plan would immediately destroy 100 million UNI from the treasury, roughly the amount that could’ve been burned had fees been on since launch, and commit ongoing protocol and Unichain fees to further burns.
- Merging forces: The proposal would fold the Uniswap Foundation into Uniswap Labs, unifying development and governance under a single entity.