$UNI is now $6.4
I put it back into my DeFi position again
UNI is now about $6.4.
I recently revisited $UNI not because it has dropped enough, but because Uniswap has finally resolved an issue I had long been unhappy with: the connection between the protocol’s earnings and UNI itself was too weak.
After UNIfication was approved at the end of last year, Uniswap v2 has enabled protocol fees, and some v3 pools have also enabled them.
For example, in v2: of the 0.30% trading fee per transaction, 0.05% now goes to the protocol. The assets collected are deposited into an on-chain contract, and participants need to burn UNI to claim those assets.
In other words, Uniswap’s trading revenue now has a clear pathway to be converted into UNI being burned.
On September 10, they also launched the StablePair Hook. Just in this year’s Q2 alone, Uniswap’s stablecoin-to-stablecoin exchange volume reached $43.4 billion.
$UNI was close to $7 a few days ago, and now it’s back around $6.4. For me, the biggest difference this time from before isn’t the price—it’s that UNI finally started to have a burn mechanism linked to protocol revenue.
I put it back into my DeFi position again
UNI is now about $6.4.
I recently revisited $UNI not because it has dropped enough, but because Uniswap has finally resolved an issue I had long been unhappy with: the connection between the protocol’s earnings and UNI itself was too weak.
After UNIfication was approved at the end of last year, Uniswap v2 has enabled protocol fees, and some v3 pools have also enabled them.
For example, in v2: of the 0.30% trading fee per transaction, 0.05% now goes to the protocol. The assets collected are deposited into an on-chain contract, and participants need to burn UNI to claim those assets.
In other words, Uniswap’s trading revenue now has a clear pathway to be converted into UNI being burned.
On September 10, they also launched the StablePair Hook. Just in this year’s Q2 alone, Uniswap’s stablecoin-to-stablecoin exchange volume reached $43.4 billion.
$UNI was close to $7 a few days ago, and now it’s back around $6.4. For me, the biggest difference this time from before isn’t the price—it’s that UNI finally started to have a burn mechanism linked to protocol revenue.