Cryptocurrency community Uniswap (UNI ($5.79)) has approved a proposal that introduces a new token burning mechanism, making the asset more deflationary by reducing market supply and potentially increasing its value.
The founder of Uniswap, Hayden Adams, announced on Thursday (25) on X that the proposal called “UNification” was approved with 125,342,017 votes in favor, against only 742 votes against.
“After a voting period of approximately two days, 100 million UNI will be burnedreimbursements will be reactivated, labs will eliminate front-end reimbursements and focus on protocol, and much more. Merry Christmas everyone!” Adams wrote.
Burn UNI token
“UNification” seeks to align economic incentives, governance and protocol development under a single framework. Now that it has been approved, it will activate protocol fees on Uniswap v2 and select v3 pools, redirecting a portion of these fees to a programmatic UNI burn mechanism.
The plan involves the retroactive burning of 100 million tokens from the project’s treasury – which currently represents approximately R$3.5 billion (US$630 million).
According to analysts, the change transforms UNI from a pure governance token into an asset that adds value and increased daily trading volume on the decentralized exchange.
The price of the asset actually reflects the optimism of the community. During the week, UNI achieves an appreciation of 14.3%according to data from CoinGecko. This Friday (26), the token will rise another 1.2% on the day, trading at US$5.89.
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