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Uniswap has removed 100 million UNI from circulation after its fee-burning proposal passed with near-unanimous support.<\/p>\n
Uniswap has executed a major token burn following the app<\/a>roval of its long-anticipated fee burning proposal, removing 100 million UNI, worth roughly $596 million at current prices, from the protocol\u2019s treasury.<\/p>\n 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<\/a> to analyst EmberCN. The transaction permanently reduced Uniswap (UNI<\/a>)\u2019s token supply, marking one of the largest burns ever carried out by a decentralized finance protocol.<\/p>\n The highly anticipated Uniswap protocol fee switch, dubbed \u201cUNIfication,\u201d 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.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n