Uniswap tokenholders voted Thursday to activate a fee switch across eight blockchains, resulting in a notable 9% rise in the price of its token, UNI, over the past week. This decision allows for a portion of the fees generated on these blockchains to be redirected into a token jar for investors who burn UNI tokens. This fee switch has already been successful on Ethereum, generating $3.3 million since its implementation in late December. Notably, Base has surpassed Ethereum as Uniswap’s top fee-generating blockchain in 2026, having collected $55 million in fees this year compared to $37 million on Ethereum, indicating a shift in trading activity. The proposal is part of a broader strategy that followed the UNIfication proposal passed last November, which also initiated the burning of almost 100 million UNI tokens to potentially increase value by reducing supply.
Uniswap activates fee switch vote for eight layer 2 blockchains
