$BNB

$Uniswap executes 100M UNI burn after governance approval

Uniswap has removed 100 million UNI from circulation after its fee-burning proposal passed with near-unanimous support.

Uniswap has executed a major token burn following the approval of its long-anticipated fee burning proposal, removing 100 million UNI, worth roughly $596 million at current prices, from the protocol’s treasury.

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 to analyst EmberCN. The transaction permanently reduced Uniswap 

UNI$6.32

’s token supply, marking one of the largest burns ever carried out by a decentralized finance protocol.