Uniswap implemented the recently approved “UNIfication” fee switch and executed an on‑chain burn of 100 million UNI at ~04:30 UTC on Dec. 28 (≈$596M), permanently reducing supply. The vote passed with 99.9% support (over 125M UNI for, 742 against). Uniswap Labs’ interface fees were set to zero while fees were enabled on Uniswap v2 and selected v3 pools on Ethereum; after covering Optimism and layer‑1 data costs, fees will be used to burn UNI. Circulating supply is now ~730M of 1B and UNI rose over 5% in 24 hours. The Uniswap Foundation also set a 20M UNI Growth Budget for ecosystem development and grants.

A 100M UNI on‑chain burn (~$596M) following a 99.9% governance vote implements a fee switch that routes fees (after Optimism and L1 data costs) to burns, reducing circulating supply to ~730M; UNI rose >5% in 24 hours. These are concrete protocol changes and a large, executed supply reduction likely to support price pressure in the short term.