One critic bluntly stated, "Uniswap made a huge strategic mistake at the worst possible time."

<p> According to an article by KOL &quot;@Michael_Liu93&quot; published by Odaily Planet Daily, Uniswap&#39;s launch of protocol fee collection and the burning of 100 million UNI tokens will be seen by the industry as a key milestone in DeFi entering the &quot;cash flow pricing era.&quot; This mechanism allows UNI to have real cash flow support for the first time, directly linking the token value to protocol revenue, and driving DeFi from narrative-driven to profit-driven.</p><p> Analysis indicates that Uniswap spends approximately $460 million in transaction fees annually on buybacks and burning, resulting in an annualized deflation rate of about 5%. Its valuation metrics are approximately a P/E ratio of 21 and a P/S ratio of 3.5. Compared to Hyperliquid (P/E 37x) and Pump (P/E 6–8x), UNI combines reasonable valuation with growth potential, becoming the first representative of a &quot;valuable token&quot; among DeFi blue chips.</p>

<p> According to Odaily Planet Daily, Uniswap founder Hayden Adams, in response to questions regarding the proposal&#39;s progress, stated that the governance process is expected to take approximately 22 days, including a 7-day comment period, a 5-day snapshot voting period, and a 10-day on-chain voting and execution phase. Depending on the specific timeline, the final effective date may be slightly delayed.</p>

<p> According to Odaily Planet Daily, Megaeth member @bread_ posted on the X platform that, based on historical data, if UNI were to implement a fee conversion, splitting the 0.3% LP fee into 0.25% (LP) and 0.05% (UNI), based on an annualized fee of approximately $2.8 billion, UNI&#39;s repurchase amount every 30 days would reach approximately $38 million. This amount would exceed PUMP&#39;s $35 million, but be lower than HYPE&#39;s $95 million.</p>

By enabling agreement fees and burn mechanisms, UNI has, for the first time, generated real cash flow and deflationary expectations.

<p> According to an article by Uniswap founder Hayden Adams, he, along with team members Devin Walsh and Kenneth Ng, submitted a new proposal to Uniswap governance, planning to officially launch a protocol fee mechanism and use the fees for UNI burning, in order to unify the incentives for the protocol and token holders.</p><p> The main contents of the proposal include:</p><p> 1: Enable protocol fees and use the revenue for UNI destruction;</p><p> 2: Incorporate Unichain sequencer fees into the UNI burning mechanism;</p><p> 3: A one-time destruction of 100 million UNI tokens from the national treasury to represent the amount due for the period of unactivated protocol fees since the token&#39;s issuance;</p><p> 4. Introduce a &quot;discounted auction of agreement fees&quot; mechanism to optimize LP returns and internalize MEV;</p><p> 5: Introducing an aggregator hook, enabling Uniswap v4 to aggregate external liquidity on-chain and collect protocol fees;</p><p> 6: By contractually restricting Labs to focus solely on growth initiatives that align with the interests of community governance, and by ceasing to charge fees in the interface, wallet, and API;</p><p> 7: Transfer foundation staff to Labs and establish a growth fund to accelerate protocol expansion;</p><p> 8: Migrate the Unisocks liquidity held by governance to v4 on Unichain and destroy the LP position.</p><p> Hayden Adams stated that this proposal marks a new phase of growth for Uniswap, aiming to make the protocol a leading global trading venue for tokenized assets and to reshape the long-term value loop through UNI burning and incentive mechanisms.</p>

<p> According to OKX market data, influenced by Uniswap founder Hayden Adams&#39; governance proposal to &quot;enable protocol fees and burn 100 million UNI tokens,&quot; the price of UNI briefly surged past $10, currently trading at $9.47, a daily increase of over 44%.</p>

<p> According to Odaily Planet Daily, based on monitoring by on-chain analyst Yu Jin, after Uniswap&#39;s founder announced the proposal to enable a transaction fee switch, a UNI investment institution (possibly a Variant Fund) transferred 2.818 million UNI tokens (worth $27.08 million) to Coinbase Prime. Subsequently, a large amount of UNI was dispersed from Coinbase Prime to centralized exchanges such as Binance, OKX, and Bybit.</p>

<p> According to data from Hyperbot, the address holding the largest long position in UNI on HyperLiquid first established its position in UNI six days ago at an initial price of only $4.9. It currently holds 670,000 UNI long positions, with an average entry price of $5.02, all purchased five days ago. Influenced by Uniswap founder Hayden Adams&#39; governance proposal to &quot;enable protocol fees and burn 100 million UNI,&quot; the price of UNI briefly surged above $10, currently trading at $9.47. This whale currently has a floating profit of over $3 million on UNI, and a total floating profit of over $9 million this week.</p>

<p> According to data from Hyperbot, as reported by Odaily Planet Daily, &quot;Brother Machi&quot; opened a 10x leveraged long position in UNI one hour ago, currently holding approximately 290,000 UNI with a liquidation price of approximately $5.67. In addition, Brother Machi still holds a 25x leveraged long position in Ethereum, but has begun reducing his position, currently holding 5,500 ETH with a liquidation price of $3,413.58. His total position is currently worth approximately $23 million, with a floating profit of $1.085 million.</p>