Uniswap Token Sees Massive Spike on Fee Switch Proposal

The Uniswap decentralized exchange's native token, UNI, has recorded a substantial price increase in response to a newly proposed protocol overhaul. This sweeping plan details the activation of a fee switch, which would redirect a portion of trading fees to UNI holders, alongside the implementation of a perpetual token burn mechanism. Proponents argue these changes are crucial for enhancing liquidity, improving value accrual for token holders, and ultimately aligning incentives across the Uniswap ecosystem.