Uniswap UNIfication governance voting shows overwhelming support, and the UNI token rises accordingly

Source: CryptoNewsNet Original Title: Uniswap surges as vote to burn 100 million UNI shows overwhelming support Original Link:

Key Points

• The Uniswap “UNIfication” governance proposal vote is nearing its end
• UNI tokens are rising as the voting deadline approaches

Voting Overview

Uniswap’s UNI token has been climbing during the community voting period for the “UNIfication” proposal. The governance plan aims to introduce protocol fee mechanisms and establish a direct token burn mechanism. Voting opened on December 20, with less than 20 hours remaining until the deadline.

Market data shows that UNI surged from about $5.4 to $6.4 early in the voting process, then retraced along with other cryptocurrencies. In the past 24 hours, the token has increased by approximately 1.5%, currently trading near $6.

Voting Results

Current results show overwhelming support, with over 120 million UNI votes in favor and only 742 votes against, far exceeding the 40 million quorum requirement. Although the voting period is not over yet, the outcome is already quite clear.

UNIfication Proposal Details

The UNIfication proposal submitted by Uniswap Labs and the Uniswap Foundation includes the following core points:

• Activate Protocol Fees: Enable Uniswap’s protocol fee mechanism and route fees to the UNI burn mechanism
• Gradual Implementation: Roll out these changes gradually across various liquidity pools and networks
• Burn Plan: Burn 100 million UNI tokens from the treasury
• Ecosystem Integration: Incorporate ecosystem functions into Uniswap Labs, reduce product-level fees, and focus on expanding protocol usage

Supporter Perspectives

Proponents of the proposal believe that this plan establishes a long-term model where protocol usage is directly linked to token supply, while also aligning Labs’ incentives more closely with the Uniswap ecosystem.