[Uniswap Protocol Fee Switch Proposal Reaches Approval Threshold, Expected to Take Effect This Week]
The Uniswap protocol fee switch proposal, UNIfication, has reached the approval threshold of 40 million votes in favor and is expected to take effect later this week. As of Monday morning, it has received nearly 62 million votes in favor, with voting set to conclude on December 25. Uniswap Labs CEO Hayden Adams stated that after approval, the fee switch for Unichain mainnet v2 and v3 will be activated and trigger UNI token burns following a two-day time lock. The proposal includes the burning of 100 million UNI from the Uniswap Foundation treasury and the implementation of a fee discount auction system. UNI is currently priced at $6.18.