🔥 UNISWAP BURNS 178K $UNI IMMEDIATELY — ROBINHOOD CHAIN GENERATED 80%+ OF IT
Uniswap’s official burn mechanism destroyed 178,000 UNI yesterday, worth more than $1.1M.
But the most surprising part is where the burn mainly came from:
🏦 Robinhood Chain: 144K UNI
🔥 80%+ of total burn
🦄 Total Uniswap burn: 178K UNI
This means that the vast majority of UNI burned that day came from Robinhood Chain alone.
The mechanism was activated through Uniswap governance and expanded protocol fee collection, as well as the UNI burn system, to v2, v3, and v4 on Robinhood Chain.
Fees flow into the chain’s TokenJar, and the UNI used to buy back those fees is eventually bridged back to Ethereum and burned.
Bigger takeaway:
Robinhood Chain activity is now becoming significant enough to have a visible impact on Uniswap’s UNI burn rate.
Uniswap’s official burn mechanism destroyed 178,000 UNI yesterday, worth more than $1.1M.
But the most surprising part is where the burn mainly came from:
🏦 Robinhood Chain: 144K UNI
🔥 80%+ of total burn
🦄 Total Uniswap burn: 178K UNI
This means that the vast majority of UNI burned that day came from Robinhood Chain alone.
The mechanism was activated through Uniswap governance and expanded protocol fee collection, as well as the UNI burn system, to v2, v3, and v4 on Robinhood Chain.
Fees flow into the chain’s TokenJar, and the UNI used to buy back those fees is eventually bridged back to Ethereum and burned.
Bigger takeaway:
Robinhood Chain activity is now becoming significant enough to have a visible impact on Uniswap’s UNI burn rate.
