Uniswap Protocol Versions 2 and 3 to Activate Fees Following UNIfication Approval
Uniswap Protocol Fee Switch Activation: The Uniswap protocol fee switch is set to activate after a governance proposal received over 62 million votes in favor, surpassing the required threshold, with voting concluding on Christmas Day.
Token Burn and Economic Changes: The proposal includes a significant token burn of 100 million UNI to enhance scarcity and introduces a new Protocol Fee Discount Auctions system aimed at improving returns for liquidity providers.
Market Response and Support: UNI's price increased by approximately 25% during the voting period, reflecting positive market sentiment, while influential industry figures backed the proposal, adding credibility to the changes.
Ongoing Support for Developers: The Uniswap Foundation confirmed that grant programs will continue, with a new Growth Budget planned to distribute 20 million UNI, ensuring ongoing support for builders despite the protocol changes.
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