Key Takeaways
- Uniswap’s governance vote on the UNIfication proposal is nearing its conclusion.
- UNI is moving higher as the deadline approaches.
Uniswap’s UNI token is edging higher as the community votes on the “UNIfication” proposal, a governance package designed to introduce protocol fees and create a direct token-burn mechanism. The vote opened on December 20 and is set to end in less than 20 hours.
CoinGecko data shows that UNI jumped from around $5.4 to $6.4 early in the voting window before retreating alongside other crypto assets. Over the past 24 hours, the token has risen about 1.5% to trade near $6.
Current results point to decisive approval, with over 120 million UNI votes in favor compared to only 742 against, far surpassing the 40 million quorum, though the voting period is not yet closed.
The UNIfication proposal, put forward by Uniswap Labs and Uniswap Foundation, would turn on Uniswap’s protocol fees and route them into a mechanism that burns UNI, while gradually rolling the changes out across pools and networks.
It also proposes burning 100 million UNI from the treasury and consolidating ecosystem functions under Uniswap Labs, which would drop product-level fees and focus on expanding protocol usage.
Supporters say the plan creates a long-term model in which protocol usage directly reduces token supply and ties Labs’ incentives more closely to the Uniswap ecosystem.
Source: https://cryptobriefing.com/uniswap-uni-jumps-unification-proposal/
