Uniswap, the decentralized exchange (DEX) community, has approved a decision related to its economic structure by approving a massive burn of 100 million units of its native UNI token.
The voting process concluded yesterday, December 25th, after five days of activity. It received overwhelming support with 125 million yes votes.which accounted for over 99% of all participants.
This measure transforms the nature of the UNI by implementing a programmed scarcity mechanism that permanently removes a significant portion of the total supply from circulation.
This massive burn exercise is integrated into a restructuring proposal that activates protocol fees to facilitate asset deflation. Under this new model, The proceeds generated from the use of this system will be used to eliminate the units mentioned above.Meanwhile, Uniswap Labs will stop charging interface fees in order to focus on software technology development.
This move seeks the growth and adoption of the platform that directly impacts the reduction in the available supply of UNI, and establishes a close link between the protocol’s activities and the monetary policy of its digital assets.
As Criptopedia, the educational section of CriptoNoticias, shows, Uniswap operates as a decentralized exchange protocol on top of Ethereum and other networks, facilitating the trading of digital currencies without a centralized intermediary.
Despite the scale of these 100 million destructions, prices do not immediately reflect the bullish impact. crypto asset prices It showed a sideways movement, falling slightly from $6 to $5.8. After the announcement.
This phenomenon suggests that the market continues to await the technical implementation of changes that will determine the future of Uniswap’s operations within the Ethereum network. The overall macroeconomic outlook will also determine where the price of UNI and other cryptocurrencies will go.
(Tag Translation) Altcoin
