Uniswap's token burn, protocol fee proposal backed overwhelmingly by voters
The proposal, which transforms UNI into a value-accruing asset, received more than 125 million votes in support with just 742 dissenting.
AI Summary
Uniswap's proposal to implement protocol fees and burn UNI tokens was approved with over 125 million supporting votes against 742 opposing ones. This change aims to make UNI a value-accruing asset linked to the platform's activity, reducing its supply based on protocol usage. Additionally, 100 million UNI tokens from the treasury, valued at over $590 million, will be retroactively burned to account for potential fees since Uniswap's inception in 2018.