Uniswap’s Big Burn & Fee Frenzy: Voters Say Yes, Price Tag Explodes! 🚀🔥

What in tarnation’s goin’ on?

Now, listen to this: Uniswap Labs and the big brothers at Uniswap Foundation cooked up this “UNIfication” plan – a fancy way of saying they’re gonna charge fees to the biggest decentral-mansion in crypto and burn off a couple million UNI for good measure. The voters, bless their hearts, cheered louder than a barn full of roosters, throwing in over 125 million votes to yes, with only 742 folks grumbling in the corner.

Everyone knows Uniswap does about $2 billion worth of trading gambles every single day, and pulls in roughly $600 million in fees across the year – if you believe the data from DeFillama. Until now, all that tasty fee cheddar went straight to liquidity providers – leaving the UNI token just sittin’ on the sidelines, more of a parlour trick than a real moneymaker.

But hold onto your hats – some of these fees are fixin’ to get rerouted to a magic onchain mechanism that’ll burn tokens faster than a prairie fire in a windstorm. This means, for every dollar traded, fewer tokens will be floating around, which might push the price higher than a Texas cattle drive. And if that wasn’t enough, they’re gonna burn 100 million UNI tokens – worth a fancy $590 million – from the treasury, retroactively, to make up for the fees they never levied since 2018. That’s what I call a “fire sale,” partner.

And what’s the market saying? Well, UNI’s up 2.5% in just a day, sitting pretty at $5.92. Looks like folks reckon this scheme might just turn things upside down – or at least make the ticker dance.