Uniswap Initiates Final Vote on Multi-Chain Fee Switch, Proposing to Allocate Portion of Fees to UNI Holders

Odaily News Uniswap community has initiated a final vote on enabling the protocol fee switch across eight chains: Base, Arbitrum, OP Mainnet, World Chain, X Layer, Celo, Soneium, and Zora.

The proposal intends to allocate at least one-sixth of the transaction fees from the aforementioned networks, diverting them from liquidity provider revenue into a "token jar." These funds will then be distributed to token holders through mechanisms such as burning an equivalent value of UNI. Since the fee-sharing mechanism was activated on the Ethereum mainnet for v2 and some v3 pools at the end of last year, it has generated approximately $3.3 million in cumulative revenue. This new proposal also plans to extend coverage to the remaining v3 pools on Ethereum.

The two related final votes are scheduled to conclude on March 4. (DL News)