Uniswap burns 100M UNI worth $596M after governance backs UNIfication proposal

On Dec. 28, Uniswap carried out a burn of 100 million UNI tokens, valued at about $596 million, after its UNIfication fee-burning proposal received 99.9% approval. The transaction, confirmed onchain, permanently cut UNI’s supply and was followed by fee changes on Uniswap v2, selected v3 pools and Unichain. UNI's price gained over 5% in the following 24 hours, while the Uniswap Foundation outlined plans for a 20 million UNI Growth Budget to support ecosystem development.