Uniswap has removed 100 million UNI from circulation after its fee-burning proposal passed with near-unanimous support. Uniswap has executed a major token burn following the approval of its long-anticipated fee burning proposal, removing 100 million UNI, worth roughly $596 million at current prices, from the protocol’s treasury. Onchain data shows the burn transaction was completed at around 4:30 am UTC on Dec. 28, confirming the first large-scale implementation of the governance decision passed earlier this week, according to analyst EmberCN. The transaction permanently reduced Uniswap (UNI)’s token supply, marking one of the largest burns ever carried out by a decentralized finance protocol. The highly anticipated Uniswap protocol fee switch, dubbed “UNIfication,” passed on Thursday with 99.9% support. More than 125 million UNI tokens were cast in favor of the proposal, compared with just 742 tokens voting against, underscoring broad consensus among token holders. Read more
Uniswap’s fee switch proposal, designed to boost its token’s supply-demand dynamics via token burns, has passed a community vote threshold and is set to take effect this week. The highly anticipated Uniswap protocol fee switch, dubbed “UNIfication,” is set to pass and go live later this week, having reached the 40 million vote threshold needed to trigger one of the biggest upgrades in the decentralized exchange protocol’s seven-year history. As of early Monday, nearly 62 million votes have already been cast in favor of the UNIfication governance proposal since voting opened on Dec. 20, with voting set to close on Thursday, Christmas Day. Uniswap Labs CEO Hayden Adams said on Thursday that a successful vote would follow a two-day timelock period in which Uniswap v2 and v3 fee switches would flip on the Unichain mainnet, triggering the burning of more Uniswap (UNI) tokens. Read more
Uniswap launched Continuous Clearing Auctions, a new onchain token sale mechanism designed to offer transparent price discovery, debuting with Aztec’s sale. Decentralized finance heavyweight Uniswap introduced Continuous Clearing Auctions (CCA), a new protocol aiming to facilitate token offerings through its infrastructure. According to a Thursday announcement, Uniswap’s CCA “helps teams bootstrap liquidity on Uniswap v4 and find the market price for new and low-liquidity tokens.” The company said this was just “the first of several tools” it is building to help projects launch and deepen token liquidity on the platform. The announcement coincided with preparations for the first CCA-enabled sale. Privacy-focused Aztec Network opened its community-only AZTEC token sale on Thursday, with a public phase scheduled for Dec. 2. Read more
The Uniswap token rose over 38% after the introduction of a protocol fee switch and burning mechanism that could strengthen UNI. The native token behind Uniswap rallied over 38% after the Uniswap Foundation and Uniswap Labs introduced a proposal aimed at making holding the token more appealing to investors. Among the potential changes outlined in the “UNIfication” proposal are activating a protocol-level fee mechanism to burn Uniswap (UNI) tokens and building a Protocol Fee Discount Auctions system to increase liquidity provider returns, the Uniswap Foundation said in a joint proposal with Uniswap Labs on Monday. They also plan to burn 100 million UNI — roughly 16% of the UNI’s circulating supply — from the treasury, which could further improve the supply and demand dynamics of UNI, the governance token behind the Uniswap decentralized exchange. Read more
Decentralized exchange Uniswap has integrated with Jupiter’s Ultra API, making over a million Solana tokens available on its web app. Decentralized exchange giant Uniswap has added support for the Solana network to its web app, enabling users to link their Solana wallet and trade Solana-based tokens alongside those from other networks. The company stated in a blog post that it is exploring bridging, crosschain swaps and full Uniswap Wallet support for Solana. Solana transactions made via the web app will be routed through the Solana DEX aggregator Jupiter, with its pseudonymous co-founder SIONG stating that Uniswap is the first major partner to utilize the Jupiter Ultra API for swaps. Read more
Anchorage Digital is expanding its Porto wallet with Uniswap integration, giving institutions direct access to DeFi swaps and liquidity. Anchorage Digital is adding decentralized finance (DeFi) capabilities to its Porto wallet, enabling institutions to make swaps and access liquidity through the product. The move brings another wallet option to institutional investors. The DeFi capability is made possible through a Uniswap integration. Nathan McCauley, CEO and co-founder of Anchorage Digital, billed the integration as enabling institutions in DeFi to “move at crypto-native speed — without compromising security.” Among the company’s Porto wallet clients are Maple Finance, the Sui Foundation and decentralized exchange dYdX. Other companies that have rolled out institutional wallets or platforms include Blockdaemon, Fireblocks, Consensys and Fordefi. Read more
Decentralized exchange Bancor is seeking damages for Uniswap's alleged infringement of its patented technology. Bancor, the creator of a smart contract-based automated market maker, is suing Uniswap for patent infringement, alleging the decentralized finance exchange has used its technology without permission and profited significantly from it. According to the May 20 announcement of the lawsuit, Bancor designed the technology in 2016 and patented it in January 2017. The technology underpins the “constant product automated market maker,” which involves using mathematics to add or withdraw resources from a liquidity pool. The application subsequently led to two issued patents. Bancor alleges that Uniswap used the invention to create its protocol, launched in November 2018. The two organizations are considered competitors in the sector of decentralized finance (DeFi). Read more